(Bloomberg) The U.S. Senate Democrats passed a $3.5 trillion budget framework touching on the environment, poverty eradication, and the welfare of elderly Americans.
The resolution unveils measures to achieve 80% clean energy by 2030 in the fight against climate change among them, a polluter fee, and the electrification plan on the federal car fleet.
The bill championed by the Democrats calls for a tax increase on households making above $400,000 per year and an extension of the child tax credit.
Kentucky Republican Senator Mitch McConnell opposed the bill and termed it as reckless taxing and overspending by the Democrats.
Senator Joe Manchin has also expressed concerns that the budget is huge and may put the country in a difficult financial situation when faced with an unforeseen crisis.
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