The House passed the scaled back version of the President’s Build Back Better reconciliation bill; the original package was $3.5 trillion, what got through the House on a 220-213 mostly party-line vote was $1.75 trillion. One Democrat, Representative Jared Golding of Maine, was the only member to cross party lines; he voted against it. The House vote was delayed waiting on a budget score from the Congressional Budget Office (CBO), requested by a group of moderate Democrats as we noted on 8 November). The bill has $81.564 billion in ag spending over the next five years; and $81.746 over the next 10 years.
Like the ag programs, most of the spending is front loaded. Over 10 years CBO forecast the bill would increase the deficit...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
