The White House finally bowed to reality Friday, formally acknowledging that President Biden’s multitrillion-dollar social spending plan has no chance of getting through Congress this year.

“The president wants to see this move forward — I think you saw in his statement — early next year,” press secretary Jen Psaki told reporters on board Air Force One en route to South Carolina, where the president was to address South Carolina State University’s winter commencement before heading to Delaware to start his weekend a few hours early.

Psaki also insisted Friday that it was “absolutely our plan” to pass the bill, known as the Build Back Better Act, before the November 2022 midterm elections — in which Republicans are heavily favored to regain control of Congress.