WASHINGTON (CNBC) – The House of Representatives on Friday passed the largest expansion of the social safety net in decades, a $1.75 trillion bill that funds universal pre-K, Medicare expansion, renewable energy credits, affordable housing, a year of expanded Child Tax Credits and major Obamacare subsidies.
The final vote was 220-213, and only one Democrat, Jared Golden of Maine voted against the bill.
Now that it has cleared the House, President Joe Biden’s Build Back Better Act goes to the Senate, where it is likely to be revised in the coming weeks. Senate Majority Leader Chuck Schumer said he aims to have the chamber pass the bill before Christmas. The House will need to vote on it again if the bill is altered.
If the measure is signed into law, the bill will profoundly change how many Americans live, especially families with children, the elderly and low income Americans.
Read the full story.