HILL TAX BRIEFING: Pelosi Touts Need to Slim Tax-and-Spend Plan

House Speaker Nancy Pelosi (D-Calif.) on Tuesday signaled that a tax-and-spend bill will need to be drastically scaled back, acknowledging the political reality that a more generous package wouldn’t have enough support.

House committees last month advanced various proposals for inclusion in a reconciliation package of up to $3.5 trillion, the cap included in a budget framework that passed this summer. But, with moderate lawmakers like Sen. Joe Manchin (D-W.Va.) adamantly against approving that much new spending, President Joe Biden is trying to sell his party on a slimmed down economic package.

Pelosi said she is “very ...