The $4 trillion plan was stillborn! Biden can't sit still: I will "go it alone" if I don't pay.

According to the Observer. Com, US President Biden announced the budget for fiscal year 2022 on May 28th, with the planned amount as high as 6 trillion US dollars. This is Biden's first budget plan since he took office, but it is also the largest budget in the United States in recent years. Prior to this, Biden's team submitted an "infrastructure" plan to Congress, including repairing dilapidated infrastructure, tackling climate change, and providing welfare for the elderly and children. These measures, totaling $4 trillion, are the infrastructure investment plans he pushed during his term of office.

Faced with this huge sum of money, Congress chose to negotiate with Biden's team for a long time. After several months' delay, this plan has been greatly reduced. It is planned to invest 974 billion US dollars in five years and 0.2 trillion US dollars in the next eight years. Compared with the previous estimate of $4 trillion, Biden's team has made great concessions.

But what Biden didn't expect was that although the amount was reduced by three quarters, the Democratic Party and the Republican Party still could not reach an agreement, and "where did the money come from" became a major problem facing the two factions. The senator suggested raising the fuel tax, but Biden refused. When he was elected president, he promised not to tax Americans earning less than $400,000 a year.

The US Consumer News and Business Channel mentioned that the Democratic Party has started drafting the draft budget, and White House press spokesman Psaki also said on 2 1 that "there is not much time left for negotiations between the two sides". She said that the Democratic Party may adopt a "budget reconciliation procedure" and forcibly bypass the Republican Party to promote the infrastructure bill. This is the last chance to reach a compromise before going it alone.

The two sides disputed the source of the money. Although this plan is very beneficial to the American people, if the US Congress approves all the funds, it will lead to a huge fiscal deficit in the United States. If the plan is successfully promoted, it will be a great achievement during Biden's tenure. Whether this plan will eventually die, and to what extent it will shrink if it succeeds, the result of the confrontation between the two factions is worth looking forward to.