Democrats release $3.5 trillion budget resolution, which doesn't include an increase to the debt limit
CNN
Senate Democrats released their budget resolution on Monday, which does not include an increase to the debt limit, kicking off a massive showdown on Capitol Hill and previewing the party's next steps following the expected passage of a bipartisan infrastructure bill.
The budget resolution has a price tag of $3.5 trillion, an includes a series of tax increases and other offsets to help finance the sweeping plan, though the majority of the legislation implementing the plan needs to be written as a dozen committees have instructions to start drafting legislation. Passing the budget resolution is just the first step, then it becomes the job of the committees to write the reconciliation bill. The resolution notably does not include lifting the nation's borrowing limit, which would mean increasing the debt ceiling separately and would require Republican votes to break a filibuster, something GOP leaders -- including Senate Minority Leader Mitch McConnell -- have warned they will not do.
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