The U.S. House of Representatives adopted a $3.5 trillion budget resolution Tuesday after a White House pressure campaign and assurances from Speaker Nancy Pelosi helped unite fractious Democrats to move ahead on the core of President Joe Biden's economic agenda.

The 220-212 vote puts to rest, for now, an intraparty rift between progressives and moderates that threatened to derail Pelosi's strategy for shepherding the budget framework and a separate $550 billion bi-partisan infrastructure bill through Congress.

To avoid a showdown on the floor, Pelosi orchestrated Tuesday's roll call to avoid a direct vote on the budget resolution. Pelosi used a procedural maneuver that deemed it passed once the House adopted a rule governing floor debate for two other measures—the infrastructure bill and voting rights legislation. No Republicans voted in favor of the rule.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.