• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
PoliticsCongress

Senate passes Democrats’ $3.5 trillion budget in another win for Biden

By
The Associated Press
The Associated Press
Down Arrow Button Icon
By
The Associated Press
The Associated Press
Down Arrow Button Icon
August 11, 2021, 4:40 AM ET
Add Fortune on Google for similar content.

Democrats pushed a $3.5 trillion framework for bolstering family services, health, and environment programs through the Senate early Wednesday, advancing President Joe Biden’s expansive vision for reshaping federal priorities just hours after handing him a companion triumph on a hefty infrastructure package.

Lawmakers approved Democrats’ budget resolution on a party-line 50-49 vote, a crucial step for a president and party set on training the government’s fiscal might at assisting families, creating jobs and fighting climate change. Higher taxes on the wealthy and corporations would pay for much of it. Passage came despite an avalanche of Republican amendments intended to make their rivals pay a price in next year’s elections for control of Congress.

House leaders announced their chamber will return from summer recess in two weeks to vote on the fiscal blueprint, which contemplates disbursing the $3.5 trillion over the next decade. Final congressional approval, which seems certain, would protect a subsequent bill actually enacting the outline’s detailed spending and tax changes from a Republican filibuster in the 50-50 Senate, delays that would otherwise kill it.

Subscribe to The Broadsheet, a daily brief for and about the world’s most powerful women, delivered free to your inbox.

Senate Budget Committee Chairman Bernie Sanders, I-Vt., once a progressive voice in Congress’ wilderness and now a national figure wielding legislative clout, said the measure would help children, families, the elderly and working people — and more.

“It will also, I hope, restore the faith of the American people in the belief that we can have a government that works for all of us, and not just the few,” he said.

Republicans argued that Democrats’ proposals would waste money, raise economy-wounding taxes, fuel inflation and codify far-left dictates that would harm Americans. They were happy to use Sanders, a self-avowed democratic socialist, to try tarring all Democrats backing the measure.

If Biden and Senate Democrats want to “outsource domestic policy to Chairman Sanders” with a “historically reckless taxing and spending spree,” Republicans lack the votes to stop them, conceded Senate Minority Leader Mitch McConnell, R-Ky. “But we will debate. We will vote.”

The Senate turned to the budget minutes after it approved the other big chunk of Biden’s objectives, a compromise $1 trillion bundle of transportation, water, broadband and other infrastructure projects. That measure, passed 69-30 with McConnell among the 19 Republicans backing it, also needs House approval.

Senate Majority Leader Chuck Schumer, D-N.Y., assured progressives that Congress will pursue sweeping initiatives going beyond the infrastructure compromise. It was a nod to divisions between the party’s moderates and liberals that he and Pelosi will have to resolve before Congress can approve their fiscal goals. Democrats control the House but only narrowly.

“To my colleagues who are concerned that this does not do enough on climate, for families, and making corporations and the rich pay their fair share: We are moving on to a second track, which will make a generational transformation in these areas,” Schumer said.

In a budget ritual, senators plunged into a “vote-a-rama,” a nonstop parade of messaging amendments that often becomes a painful all-night ordeal. This time, the Senate had held more than 40 votes by the time it approved the measure at around 4 a.m. EDT, more than 14 hours after the procedural wretchedness began.

With the budget resolution largely advisory, the goal of most amendments was not to win but to force the other party’s vulnerable senators to cast troublesome votes that can be used against them in next year’s elections for congressional control.

Republicans crowed after Democrats opposed GOP amendments calling for the full-time reopening of pandemic-shuttered schools, boosting the Pentagon’s budget and retaining limits on federal income tax deductions for state and local levies. Those deduction caps are detested by lawmakers from upper-income, mostly Democratic states.

Republicans were also happy when Democrats opposed restricting IRS access to some financial records, which McConnell’s office said would prompt political “witch hunts.” And when Democrats showed support for Biden’s now suspended ban on oil and gas leasing on federal lands, which Republicans said would prompt gasoline price increases.

One amendment may have boomeranged after the Senate voted 99-0 for a proposal by freshman Sen. Tommy Tuberville, R-Ala., to curb federal funds for any municipalities that defund the police. That idea has been rejected by all but the most progressive Democrats, but Republicans have persistently accused them anyway of backing it.

In an animated, sardonic rejoinder, Sen. Cory Booker, D-N.J., called Tuberville’s amendment “a gift” that would let Democrats “put to bed this scurrilous accusation that somebody in this great esteemed body would want to defund the police.” He said he wanted to “walk over there and hug my colleague.”

Republicans claimed two narrow victories with potential long-term implications, with West Virginia Sen. Joe Manchin, one of the chamber’s more conservative Democrats, joining them on both nonbinding amendments.

One indicated support for health care providers who refuse to participate in abortions. The other voiced opposition to teaching critical race theory, which considers racism endemic to American institutions. There’s scant evidence that it’s part of public school curriculums.

The budget blueprint envisions creating new programs including tuition-free pre-kindergarten and community college, paid family leave and a Civilian Climate Corps whose workers would tackle environmental projects. Millions of immigrants in the U.S. illegally would have a new chance for citizenship, and there would be financial incentives for states to adopt more labor-friendly laws.

Medicare would add dental, hearing and vision benefits, and tax credits and grants would prod utilities and industries to embrace clean energy. Child tax credits beefed up for the pandemic would be extended, along with federal subsidies for health insurance.

Besides higher taxes on the wealthy and corporations, Democrats envision savings by letting the government negotiate prices for pharmaceuticals it buys, slapping taxes on imported carbon fuels and strengthening IRS tax collections. Democrats have said their policies will be fully paid for, but they’ll make no final decisions until this fall’s follow-up bill.

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.
About the Author
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Politics

Brazil uses ‘gold fingerprinting’ to fight illegal mining in the Amazon
EnvironmentScience
Brazil uses ‘gold fingerprinting’ to fight illegal mining in the Amazon
By Gabriela Sa Pessoa and The Associated PressJuly 24, 2026
2 hours ago
Photo of retailer Wildberries
PoliticsUkraine
Ukraine’s drone strikes on Russia’s Amazon rival’s warehouses hit military supply chain and shake public morale
By The Associated Press and Dasha LitvinovaJuly 24, 2026
2 hours ago
Vladimir Putin and Xi Jinping shaking hands
PoliticsChina
China adds 14 European firms to export control list in tit-for-tat over EU’s Russia sanctions
By The Associated PressJuly 24, 2026
2 hours ago
White House officially asks permission to change name of Penn Station after hinting it will be called ‘Trump’
North AmericaInfrastructure
White House officially asks permission to change name of Penn Station after hinting it will be called ‘Trump’
By Philip Marcelo and The Associated PressJuly 24, 2026
3 hours ago
sc
PoliticsSupreme Court
Elena Kagan denies that Supreme Court is Trump’s ‘puppet,’ claiming they’ve checked him ‘on some big issues’
By Gene Johnson and The Associated PressJuly 24, 2026
4 hours ago
t
North AmericaTariffs
Trump reimposes tariffs on 60 countries using forced-labor law
By Paul Wiseman, Mae Anderson and The Associated PressJuly 24, 2026
4 hours ago

Most Popular

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
1 day ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
2 days ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
1 day ago
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
9 hours ago
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
Personal Finance
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
By Joshua HongJuly 23, 2026
1 day ago
Current price of oil as of July 23, 2026
Personal Finance
Current price of oil as of July 23, 2026
By Joseph HostetlerJuly 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.