Business lobbyists are increasingly optimistic that they can water down tax hikes and other measures in Democrats’ $3.5 trillion spending plan opposed by corporate America.

Their confidence was boosted last week by an agreement struck between Speaker Nancy PelosiNancy PelosiGOP lawmaker threatened officials while trying to enter Afghanistan: report Overnight Defense & National Security: War ends, but finger pointing continues ‘Not this time’: Sanders blasts lobbyists plans targeting Democrats’ spending bill MORE (D-Calif.) and 10 centrist House Democrats that ensures a Sept. 27 vote on the bipartisan $1 trillion infrastructure bill passed by the Senate earlier this month.

By agreeing to a stand-alone vote, Pelosi softened her stance that both bills must be passed together, a priority for progressives in her caucus. Business groups see that as a huge win, believing that progressives will lose some leverage over components of the…

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