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Update: Senate shelves the BBB Act


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I guess maybe Manchin DID kinda/sorta make known what he wants:

 

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WWW.POLITICO.COM

Manchin also suggested beginning debate no earlier than Oct. 1.

 

Quote

 

Joe Manchin proposed a deal to Senate Majority Leader Chuck Schumer this summer to limit the total cost of Democrats' sweeping spending bill to $1.5 trillion, according to a copy of the agreement obtained by POLITICO.

 

Manchin also suggested beginning debate no earlier than Oct. 1.

 

The West Virginia senator has been distributing the document to Democratic colleagues and leaders in recent days to underscore that he has outlined his red lines on President Joe Biden’s jobs and families plan. The one-page understanding is dated July 28, right before the Senate passed a bipartisan infrastructure bill that Manchin helped write and ahead of Senate passage of a budget setting up a spending bill as large as $3.5 trillion.

 

In the document, Manchin proposes raising the corporate tax rate to 25 percent, the top tax rate on income to 39.6 percent, raising the capital gains tax rate to 28 percent and says that any revenue from the bill “exceeding” $1.5 trillion will go to deficit reduction.

 

Manchin has repeatedly raised the deficit as one of his major concerns, and in this document he asks for the Federal Reserve to taper its quantitative easing program in the interest of relieving inflation concerns and asks that no funds in this bill be spent until previous Covid aid money is disbursed.

 

“Senator Manchin does not guarantee that he will vote for the final reconciliation legislation if it exceeds the conditions outlined in this agreement,” the paper reads in bold text.

 

 

  • Guillotine 1
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That's dumb but reasonable, something that can be worked from. And aside from the don't spend until covid funds are gone and stopping QE, it's not bad. he still needs to say what programs are getting cut from the 3.5T and what arent. Also worth mentioning is that he wants all clean energy stuff to be under his committees jurisdiction which seems bad tbh

 

Shouldn't have come down from the initial 6T for mark Warner

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