About This Source - Bloomberg QuickTake: Now
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.
It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “Biden Open to Options on Infrastructure, Families Plans as Congress Takes Over” – below is their description.
President Joe Biden’s $4 trillion vision of remaking the federal government’s role in the U.S. economy is now in the hands of Congress, where both parties see a higher chance of at least some compromise than for the administration’s pandemic-relief bill.
The president at this point is open to various possibilities to pass his proposals, including breaking them into multiple bills, according to a White House official speaking on condition of anonymity. While the “American Families Plan” that twins social spending with individual tax hikes is a non-starter for Republicans, parts of the infrastructure-focused “American Jobs Plan” have been embraced by the GOP.
Biden’s planning to host top congressional leaders from each party at the White House on May 12, something he didn’t do for the $1.9 trillion Covid-19 relief package that passed with no Republican support. Whether a bipartisan deal can be done on a portion of his plans may hinge on whether the GOP abandons the comprehensive obstructionist model it used against President Barack Obama.
Any bipartisan deal would likely be limited to spending items, with Republicans widely panning the tax increases the White House has pushed for companies and wealthy Americans. GOP members haven’t proposed any specific funding measures.Bloomberg Quicktake: Now YouTube Channel
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