This week will be one of the most significant of 2021 for the U.S. Congress, as House Majority Leader Nancy Pelosi attempts to pass three major pieces of legislation: the ~$1T infrastructure bill, the $3.5T budget bill, and a resolution to lift the debt ceiling. Opposition from Republicans and infighting among Democrats could derail this ambitious plan — and, with it, Democratic hopes of passing their agenda by the end of 2021.
- This weekend Pelosi published a letter to Democratic lawmakers in which she outlined her plans to hold votes on all three pieces of legislation.
- Pelosi said: "The next few days will be a time of intensity."
- The House will vote on the $1T infrastructure bill today.
- This is expected to be the easiest part of the legislative package to pass; it has bipartisan backing and has already passed in the Senate.
- The Senate is expected to vote this evening on a measure to extend the government's funding through the end of the calendar year. The measure would also suspend the debt limit until Dec. 2022.
- Republicans plan to block the measure, increasing the risk of an unprecedented — but probably catastrophic — default on government debt.
- This measure would not authorize new spending, but would allow the Treasury Department to continue paying for programs already authorized under the existing federal budget.
- Passing the ~$3.5T budget will be a big challenge for Pelosi and Senate Majority Leader Chuck Schumer.
- The budget resolution bill would mark the most significant expansion of social care policies in recent decades, funding new programs in education, childcare, and healthcare.
- It would also dedicate billions of dollars to new programs to combat climate change and support a transition to green energy.
- The House Budget Committee approved the House's version of the bill yesterday — it is unclear if that will be the final version of the legislation put forward for a vote.