A deal within reach, President Joe Biden and Congress’ top Democrats edged close to sealing their giant domestic legislation, though the informal deadline appeared to slip as they worked to scale back the measure and determine how to pay for it.
WASHINGTON —
No agreement was announced by Friday's self-imposed deadline to at least agree on a basic outline. Biden wants a deal before he leaves next week for global summits in Europe.Sticking points appear to include proposed corporate tax hikes to help finance the plan and an effort to lower prescription drug costs that has raised concerns from the pharmaceutical industry.
Still, he expressed optimism about the process. “It's all about compromise. Compromise has become a dirty word, but bipartisanship and compromise still has to be possible,” he said. While the president said Sinema opposed raising "a single penny in taxes” on the wealthy or corporations, a White House official later clarified that the president was referring to raising the top tax rates, not the range of tax proposals “which Sen. Sinema supports.”
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