US Budget Reconciliation Bill set to remake US economy and society

SHOULD the US Congress pass a US$3.5 trillion budget resolution this month, it will reshape the US economy and society in a fashion unseen since the days of former presidents Lyndon Johnson and Franklin Roosevelt.

Both the House of Representatives and the Senate have passed versions of the budget but the Congress will not pass the final Reconciliation Bill until Democrats settle an increasingly acrimonious debate over the price tag.

The Democratic leadership - President Joe Biden, House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer - believe they can do this by the end of September.