US Democratic Senator Joe Manchin said Thursday that Democratic lawmakers are getting closer to agreeing on a “higher” figure for the spending bill, Reuters reported.
“Negotiations are ongoing, we are still talking to the White House,” Manchin added. “The child tax credit is being negotiated, the program is already in effect until 2025.”
On a similar note, US Senate Democratic Leader Chuck Schumer said they were “getting closer” to the bill on US President Joe Biden’s agenda.
It’s worth noting that Biden has reportedly lowered the expense bill target to between $ 1.75 trillion and $ 1.9 trillion.
Market reaction
These comments do not appear to have a noticeable impact on market sentiment. At time of writing, the S&P 500 Index was virtually unchanged on the day at 4,535.
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