Democrats Weigh Borrowing for $3.5 Trillion Plan

“In their initial rollout, Democratic leaders said the plan would be fully offset with higher taxes on companies and wealthy households along with spending reductions, such as letting Medicare negotiate for lower drug prices,” the Wall Street Journal reports.

“But as they confront detailed choices, senior lawmakers have begun suggesting that the intraparty consensus on taxes might not provide enough money. That scenario could prompt them to increase federal borrowing or pare back spending ambitions.”

“The imminent choices are likely to inflame already-high tensions between the party’s centrist and liberal wings, which both must back the legislation to muscle it through Congress without GOP support.”