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Bull Trader USA

: Biden acknowledges his big social-spending bill won’t get Senate’s OK this year

President Joe Biden is conceding that he and his fellow Democrats need more time to deliver on his big social-spending and climate package.

Analysts had been saying it was looking increasingly likely that Biden’s Build Back Better Act won’t get the Senate’s OK this year, as moderate Democratic Sen. Joe Manchin of West Virginia continues to voice concerns about the roughly $2 trillion bill.

“My team and I are having ongoing discussions with Senator Manchin; that work will continue next week,” Biden said in a statement late Thursday.

“It takes time to finalize these agreements, prepare the legislative changes, and finish all the parliamentary and procedural steps needed to enable a Senate vote. We will advance this work together over the days and weeks ahead; Leader Schumer and I are determined to see the bill successfully on the floor as early as possible.”

Senate Majority Leader Chuck Schumer, the New York Democrat, previously had set a goal of passage by Christmas.

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