The new agreement would save $50 billion by delaying a Medicare rebate rule passed under President Donald J. Trump and raise nearly $30 billion by applying tax information reporting requirements to cryptocurrency. It also proposes to recoup $50 billion in fraudulently paid unemployment benefits during the pandemic. Republicans blocked the Senate from moving ahead with the plan last week, saying that too many issues remained unresolved. Some Senate Democrats, including at least one key committee chairman, said they were still reviewing the plan before deciding whether to support it. Should the measure clear the Senate, it will also have to pass the House, where some liberal Democrats have balked at the emerging details.

Source: New York Times July 28, 2021 16:07 UTC