Senate Democrats announce $3.5 trillion budget reconciliation package

Details: Schumer said the budget plan will cover all of the major Biden administration proposals on human infrastructure, including the president's families, climate and housing programs.

He added that the plan will also include "a robust expansion of Medicare, including … money for dental, vision and hearing."

While negotiators are still finalizing details, the proposal is expected to fully offset with new revenues, among other pay-fors.

How to pay for the package remains a key sticking point in passing the bill.

Between the lines: Democrats have their work cut out for them in order to pass this bill.

Democratic leaders will need to get all 50 Senate Democrats on board — a huge feat in the current makeup of the party.