Scaled-Back Biden Plan Risks Weaker Impact in Midterm Election

Oct. 20, 2021, 4:51 PM

The move by Democrats to shrink President Joe Biden’s vision for the economy into a smaller package is turning to a debate over whether key benefits should be restricted to fewer, needier families -- potentially blunting both their impact and political support in suburban districts that will be battlegrounds in next year’s midterm election.

The White House has indicated Biden is open to stricter income caps for some programs, and a growing number of Democrats are warming to the idea as a way to cut the price tag to meet the demands of fiscal conservatives such as Senators Joe Manchin ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription.