US House of Representatives Votes on Biden’s Investment Plans
The US House of Representatives is voting today on two grand investment plans, and House Speaker Nancy Pelosi says, "We will approve these two plans."
The US House of Representatives will vote Friday on two massive investment plans presented by US President Joe Biden to "rebuild" America, the House Democratic Majority Leader Steny Hoyer announced Thursday night.
Hoyer's office said in a memo that "The House of Representatives will meet on Friday morning at 8:00 (12:00 GMT) to vote on the two bills that the Democratic president aspires to print."
A White House spokeswoman described the two projects as "historic" and "changing".
After they suffered a heavy defeat in the local elections in Virginia, the "Democrats" in Washington accelerated to rally behind President Biden.
“We will approve these two plans,” Democratic House Speaker Nancy Pelosi said Thursday.
The power struggle between Biden's left-wing and the more moderate section of his party has stripped the president of a much-needed political victory that would have given his presidency new life.
According to polls, the two investing plans are popular among Americans. Including a study undertaken by the firm "Moody's" and published on Thursday, reporting that the two initiatives might produce 1.5 million employment opportunities over the next 10 years.
Democrats and several Republicans favor the first initiative, totaling $ 1.2 trillion and comparable to Spain's gross domestic product, to repair the country's deteriorating roads, bridges, and transportation.
The second socio-climate initiative, "Building Back Better," intends to lower childcare costs and invest $ 550 billion to reduce greenhouse gas emissions by 2030.
On October 1, the leader of the Democratic majority in the US House of Representatives announced postponing the vote on Biden's investment plan, due to the continuing disagreement between the left and moderate wings of the Democratic Party over this plan.
President Biden says that these investment plans are necessary to "counter China" and to keep America "the number one power in the world."