Democrats release text of massive social spending bill

Democrats have released the text of their massive social spending bill, outlining many of the priorities of President Biden's "Build Back Better" plan.

The 1684-page bill, released Thursday, comes just one day after House Speaker Nancy Pelosi, D-Calif., signaled optimism that various factions of the Democratic caucus were close to reaching a deal on the legislation.

"As we have insisted, we are close to agreement on the priorities and the topline of the legislation, which can and must pass the House and Senate," Pelosi said in a letter to Democrats Wednesday. "At the same time, we are facing a crucial deadline for the Bipartisan Infrastructure Framework to pass."

Pelosi expressed more optimism after the release of the bill, which comes in at a price tag of roughly $1,750,000,000,000, comparing it to President Franklin Delano Roosevelt's New Deal.