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The Democratic-run House on Tuesday continued to work on making a deal that would advance President Joe Biden’s big spending plans, with Speaker Nancy Pelosi saying she’s not far from achieving a deal with moderate Democratic representatives.
“I think we’re close to landing the plane,” Pelosi told fellow Democrats on Tuesday morning, according to multiple published reports.
The House failed to hold a procedural vote on Monday night as planned for a “rule” that would have set up future passage of a $1 trillion bipartisan infrastructure bill and a $3.5 trillion package targeting social spending, climate change and other Democratic priorities.
A group of 10 moderate Democratic House lawmakers, up from nine earlier, has been withholding support because the representatives want the infrastructure bill to get approved before the larger package.
Related: Biden’s agenda facing test this week as Pelosi, moderate Democrats in standoff
The deal that reportedly could win them over would involve having the rule commit the House to holding an infrastructure vote by late September.
Pelosi also faces pressure from progressive House Democrats who say they won’t support the bipartisan infrastructure bill unless the $3.5 trillion package moves ahead as well. She has a narrow House majority and can afford no more than three defections by Democrats on legislation if there’s no Republican support for it.
The House is slated to debate and consider the rule this afternoon.
Infrastructure stocks, as tracked by the Global X U.S. Infrastructure Development ETF
PAVE,
traded 0.8% higher on Tuesday, while the broad S&P 500 index
SPX,
edged up 0.3%.
