This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Manchin not sold on Biden’s mammoth bill, demands Dems tell the truth about its price
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Trending > Manchin not sold on Biden’s mammoth bill, demands Dems tell the truth about its price
Trending

Manchin not sold on Biden’s mammoth bill, demands Dems tell the truth about its price

Editorial Board Published December 13, 2021
Share
Manchin not sold on Biden’s mammoth bill, demands Dems tell the truth about its price
SHARE

Sen. Joe Manchin III doubled down on criticism of President Biden’s mammoth social welfare bill Monday for relying on budgetary gimmicks, raising fresh doubts about Senate Democrats’ plan to vote on the bill this week.

Mr. Manchin, a West Virginia Democrat and key swing vote on Mr. Biden’s agenda, said it would be disingenuous for the $1.75 trillion Build Back Better Act to run its social welfare programs for only a short time while the bill’s tax hikes last a decade.

“As far as I’m concerned, whatever plan it would be — pre-K, child care, in-home care — then it should be 10 years,” he said. “It shouldn’t just be one year here, three years here, five years there. I think it would be very transparent for the public to see.”

His objections put the bill in peril because it takes the defection of just one Senate Democrat to sink the legislation in the evenly divided chamber.

Congressional Democrats have kept down the cost of the package by limiting the life spans of some of the more expensive programs, though the proposed benefits would be politically difficult to end once established.

Mr. Biden proposed a one-year extension of the child tax credit, which gives $300 a month to families with children younger than 6. He also proposed a one-year extension of the earned income tax credit.


SEE ALSO: Biden’s big bill cuts hospital funds for poor in red states, shifts money to Obamacare


For more extensive spending programs, such as universal pre-kindergarten and child care subsidies, Mr. Biden proposed six-year life spans.

Mr. Manchin said the tactic amounted to little more than budgetary gimmicks that mask the true cost of the legislation.

“I don’t think that’s a fair evaluation of saying we are going to spend X amount of dollars but then we are going to have to depend on coming back and finding more money,” he said.

Without properly accounting for all of the bill’s programs, Mr. Manchin said, lawmakers would create future problems and pile onto the $28.9 trillion national debt. 

“If we’re not transparent and accurate, then where does the money come from?” he said. “Do we just throw caution to the wind and have debt financing, which has been done by both parties for far too long?” 

The debt problem will weigh heavily on Mr. Manchin as he and fellow Democrats vote this week to raise the federal debt limit by more than $1 trillion. Republicans eager to paint Mr. Biden and his party as tax-and-spend liberals will oppose the maneuver, which will keep the U.S. government from defaulting on its obligations through 2022. 

“The more the men and women of this country learn about the reckless taxing and spending spree that Democrats are planning next, the less they want it or anything close to it,” said Senate Minority Leader Mitch McConnell, Kentucky Republican.

An analysis by the nonpartisan Congressional Budget Office found last week that if all of the bill’s proposed programs continue over the next 10 years, the cost will increase by $3 trillion to $4.75 trillion over 10 years. The extra $3 trillion would be added to deficits, the CBO said.

“Their analysis is stunning,” said Sen. Lindsey Graham of South Carolina, the top Republican on the Senate Budget Committee. “We all know that the new provisions will not sunset. They never do.”

Mr. Manchin called the analysis “very sobering” and something lawmakers should consider as they debate the bill.

Mr. Biden was set to speak by phone Monday with Mr. Manchin to press the senator to drop opposition to the bill and help pass it before lawmakers depart Washington for the Christmas recess.

Mr. Manchin, however, has his own agenda for the call.

“We’re going to talk about exactly what happened on Friday, with the CBO score and inflation reports and things of that sort,” Mr. Manchin said.

Republicans hope the CBO numbers will persuade Mr. Manchin to kill the bill outright, especially with skyrocketing inflation. 

“Joe Manchin has been wanting to know without gimmicks what the bill would cost. We now know it more than doubles,” Mr. Graham said. “My hope is that Sen. Manchin will say, ‘Stop, shelve Build Back Better until we find better answers to where inflation is headed.’” 

Such a course of events would prove disastrous for Mr. Biden, who staked his domestic agenda on the bill’s approval.

TAGGED:TrendingWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article JPMorgan in Talks to Pay 0 Million Fine Over Staffers’ Texts JPMorgan in Talks to Pay $200 Million Fine Over Staffers’ Texts
Next Article Omicron Oil Demand Impact Will Be ‘Mild and Short-Lived,’ OPEC Says Omicron Oil Demand Impact Will Be ‘Mild and Short-Lived,’ OPEC Says

Editor's Pick

Breakthrough study reveals first large-scale subsurface energy resources discovery in the Dominican Republic

Breakthrough study reveals first large-scale subsurface energy resources discovery in the Dominican Republic

The island of Dominican Republic has achieved a major scientific and economic milestone with the identification of what experts describe…

By Editorial Board 3 Min Read
Mohamed Farmaajo: A Leader Shaped by Reform, Integrity, and National Vision
Mohamed Farmaajo: A Leader Shaped by Reform, Integrity, and National Vision

Mohamed Abdullahi Mohamed, widely known as Farmaajo, was born in Mogadishu in…

6 Min Read
Prizefighter Christy Martin on going through her greatest battle outdoors of the ring
Prizefighter Christy Martin on going through her greatest battle outdoors of the ring

Opponents feared boxer Christy Martin within the ring. Nevertheless, it was at…

55 Min Read

Oponion

Emilia Perez Controversy Defined: Why Is a Movie With 13 Oscar Nominations Receiving So A lot Hate?

Emilia Perez Controversy Defined: Why Is a Movie With 13 Oscar Nominations Receiving So A lot Hate?

Studying Time: 4 minutes The nominees for the 97th Academy…

January 23, 2025

Irish Facebook Decision Adds Pressure to Reach Transatlantic Data Deal

European Union privacy regulators are reviewing…

July 7, 2022

Man establishes tiny republic of 400 individuals in disputed Croatia-Serbia border territory

A person has declared himself president…

August 2, 2025

People on TV Are Harder to Hear, but You Can Fix That

TechPersonal TechPersonal Technology: ReviewImproving dialogue can…

December 11, 2022

7 Wholesome Examine Snacks for School College students to Increase Focus

Struggling to remain targeted whereas learning?…

March 14, 2025

You Might Also Like

Building Dreams, Not Excuses: The Fabian QC Mindset
BusinessTrending

Building Dreams, Not Excuses: The Fabian QC Mindset

Fabian Niklas Ciobanu didn’t inherit wealth — he built it. Born in Moldova and raised in Italy, he grew up…

1 Min Read
The Brand Doctor: Applying diagnostic analysis, structural correction, and strategic recalibration to brand performance.
BusinessTrending

The Brand Doctor: Applying diagnostic analysis, structural correction, and strategic recalibration to brand performance.

In a market where most companies confuse visibility with value, Dr. Victoria Garcia operates at a different level. Her work…

6 Min Read
Aneudy Neo Gonzalez, Esq.: A Legal Mind Shaping the Future of Healthcare and Community Advocacy
Trending

Aneudy Neo Gonzalez, Esq.: A Legal Mind Shaping the Future of Healthcare and Community Advocacy

Aneudy Neo Gonzalez, Esq. is a respected attorney, educator, and advocate whose career bridges law, healthcare, and community empowerment. With nearly…

5 Min Read
The Triangle Breathing Tool: A Montessori Approach to Healing Through Movement, Breathing, and Sensory Integration
LifestyleTrending

The Triangle Breathing Tool: A Montessori Approach to Healing Through Movement, Breathing, and Sensory Integration

Maria Montessori once wrote that “establishing lasting peace is the work of education,” and that a child must first find…

7 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?