Biden Admits Defeat on Spending Bill

President Joe Biden said Friday that his social safety net budget reconciliation package won’t hit the $3.5 trillion price tag outlined by Democratic leaders over the summer.

His comments, delivered during remarks at a Connecticut child care center, mark the first time the president appeared to concede fully that he would need to reduce the scope of the bill in order to secure votes from centrist Democratic Sens. Joe Manchin of West Virginia and Kyrsten Sinema of Arizona.

“When I hear people say it costs $3.5 trillion, I’ll be honest with you, we’re probably not going to get $3.5 trillion this year,” the president said. “We’re gonna get something less than that, but I’m going to negotiate. I’m going to get it done.”

Biden reiterated the reduced price tag near the tail end of his speech.

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