Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Samuel Corum/Getty Images

Senate Democrats revealed on Wednesday key details of their $3.5 trillion budget framework, a starting point for a Democrat-only bill for "human" infrastructure that would enhance federal safety net programs, expand Medicare and tackle climate change.

Why it matters: The release of the FY2022 budget deal formally kicks off the process for getting a pair of infrastructure bills across the finish line.

  • Democratic leaders need to hold all 50 of their senators together to pass this budget framework, which they plan to usher through the budget reconciliation process.
Details:

Tax credits:

  • Extend the child tax credit under the American Rescue Plan, the earned income tax credit, and separate child and dependent care tax credits.
  • A senior Senate Democratic aide said the duration of each credit’s enactment will be determined by congressional scoring and committee input.

Climate change:

  • Create 80% clean electricity and 50% economy-wide carbon emissions by 2030.
  • More funding for the clean energy standard, clean energy and vehicle tax incentives, "climate-smart agriculture," wildfire prevention, federal procurement of clean technologies, and the weatherization and electrification of buildings.
  • The resolution will also propose a new methane reduction and polluter import fees "to increase our emissions reductions," per the aide.

Key provisions in the American Families Plan

  • Universal pre-K for 3- and 4-year-old children, child care and community college.
  • Increased funding for historically black colleges and universities (HBCUs), pell grants, paid family and medical leave, nutrition assistance and affordable housing.

Health care costs

  • The package would add a new dental, vision, and hearing benefit to Medicare, extend expansions of the Affordable Care Act, expand home care, reduced prescription drugs costs and expand Medicaid coverage to states that haven't done so yet.

Economic inequality

  • Increased funding for housing investments and manufacturing and supply chains.
  • Improve green cards and pro-worker incentives and penalties.
Pay fors

The plans to offset the package are broken into three separate buckets.

Tax reform

  • Increasing corporate and international taxes, as well as taxes on the wealthy.
  • Increased funding for the IRS to crack down on tax enforcement.

Health savings

  • Through new language on prescription drugs and by repealing the Trump rebate.

Long-term economic growth

  • The framework would prohibit tax increases on families making under $400,000 per year, small businesses and family farms.

The latest: During Senate Democrats' caucus lunch on Wednesday, Majority Leader Chuck Schumer (D-N.Y.), Budget Committee Chair Bernie Sanders (I-Vt.) and Sen. Mark Warner (D-Va.) briefed their colleagues on these top-line details.

  • President Biden also attended the lunch in an attempt to keep Democrats unified in their support for both infrastructure bills.

What to watch: The Senate will continue to work on the massive budget reconciliation package while it takes up a $1.2 trillion bipartisan infrastructure, with a goal of passing both by August recess.

Go deeper

Child care economics weigh on the recovery

Illustration: Aïda Amer/Axios

Child care costs are soaring, but workers still get rock-bottom pay. That's one reason staff is fleeing, putting already pricy care further out of reach for parents.

Why it matters: The industry's problems — magnified during the pandemic — are ricocheting and weighing on the economy.

Not enough votes for corporate tax hike, Biden says

President Biden speaks at the Electric City Trolley Museum in Scranton, Pennsylvania. Photo: Hannah Beier/Bloomberg via Getty Images

Democrats don't have the votes to raise corporate taxes, President Biden admitted at Thursday's CNN town hall in Baltimore, Maryland, where he went into detail on the state of negotiations concerning the massive reconciliation bill.

Why it matters: Democrats are still negotiating what will go into the bill. Divisions within the party have stalled the legislation for weeks.

Scoop: “How about zero?” Manchin, Sanders get heated behind closed doors

Sen. Joe Manchin. Photo: Tom Williams/CQ-Roll Call via Getty Images

Sens. Joe Manchin (D-W.Va.) and Bernie Sanders (I-Vt.) squabbled behind closed doors Wednesday, with Manchin using a raised-fist goose egg to tell his colleague he can live without any of President Biden's social spending plan, Axios has learned.

Why it matters: The disagreement, recounted to Axios by two senators in the room, underscores how far apart two key members remain as the Democratic Party tries to meet its deadline for reaching an agreement on a budget reconciliation framework by Friday.