“The White House, the House and the Senate have reached an agreement on a framework that will pay for any final negotiated agreement,” said Schumer, alongside Yellen and House Speaker Nancy Pelosi at her weekly press conference Thursday. “So, the revenue side of this, we have an agreement on.”
A senior Democratic aide says there’s an agreement between House and Senate Democratic leaders, the chairs of the House Ways and Means and Senate Finance committees, and White House officials are meeting with key House and Senate moderates today to talk about financing options.
Schumer later expanded on his announcement, telling reporters that “it’s a menu of options” that will pay for whatever the final agreement is on the Democrats’ sweeping social, economic package, which has a price tag of $3.5 trillion, though the exact cost remains up for debate between progressives who see that as a floor and moderates who want the price tag lowered.
Paying for the proposal is only one of many issues Democrats face. Pelosi told Fintech Zoom that there is still no agreement on a top line price tag, as members are still deciding what will be in the final draft.
“What we said was the House, the Senate, and the White House came to an agreement on how we can go forward in a way to pay for this,” she said. “We wanted to make sure it was paid for.”
This story has been updated with additional developments Thursday.