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Schumer unveils $3.5T bill to hike social and climate spending, raise taxes and give green cards

Schumer unveils $3.5T bill to hike social and climate spending, raise taxes and give green cards

NY Post
Monday, August 09, 2021 08:17:14 PM UTC

WASHINGTON — Senate Democrats on Monday unveiled a sweeping, $3.5 trillion blueprint to boost social spending, raise taxes and pass a range of Democratic policies from electric car purchases to immigration reform under special budget rules.

Democrats hope to ram through the massive spending program without Republican support — vastly expanding federal renewable energy projects, putting new pollution fees in place, and setting up universal preschool for 3- and 4-year-olds, free community college and subsidized paid family and sick leave. The bill would hike taxes on businesses and higher incomes while also making the state and local tax (SALT) deduction cap more generous, in effect lowering taxes for some residents of high-tax jurisdictions like New York.
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