Democrats look to salvage wreckage of Biden's spending plan in 2022
Will Sen. Joe Manchin ‘cave’ on Build Back Better?
National Taxpayers Union EVP Brandon Arnold and Walser Wealth Management CEO Rebecca Walser discuss Sen. Joe Manchin’s stance on the Build Back Better plan and what’s in store for Congress in 2022.
Democrats are kicking off the new year with hopes of salvaging the fragments of President Biden's signature economic spending plan, just weeks after key moderate Sen. Joe Manchin thrashed the party's hopes of passing the massive social spending and climate bill.
Congressional momentum for the Build Back Better plan crumbled at the end of December, when Manchin – citing the highest inflation in a generation – abruptly withdrew his support for the bill during an interview on "Fox News Sunday." But the West Virginia Democrat has spoken with the president since then, people familiar with the matter told FOX Business, and has publicly telegraphed key changes that could elicit his support for a narrower version of the bill.
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Manchin's chief concerns with the legislation include the one-year expansion of the boosted child tax credit payment, which expired in January without congressional action, as well as some provisions intended to combat climate change. He has also insisted the measure should go through Senate committees in order to examine its economic effect and focus on rolling back the 2017 Trump tax cuts – something that Sen. Kyrsten Sinema, D-Ariz., opposes.
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