CM – Manchin’s stance on Build Back Better is in line with history as a fiscal hawk

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CHARLESTON – US Senator Joe Manchin, West Virginia’s lone Democrat on Capitol Hill, has kept the cost of a trillion dollar « human infrastructure » and social spending bill, the content of which seems to change daily, but those who remain critical of Manchin ignores its long history as a fiscal conservative.

On Thursday, President Joe Biden and White House officials worked to get Manchin and Democratic US Senator Kyrsten Sinema of Arizona into a Build Back Better -Accept $ 1.75 trillion package – up from the $ 6 billion when it was first introduced as the American Families Plan from the $ 3.5 trillion reconciliation package.

“President Biden’s framework is the product of months of negotiation and input from all Democratic Party members who share a common goal, for the American Vo lk, « Manchin said in a statement on Thursday.

Manchin backed the resolution in August to begin the negotiation process on the reconciliation package – a process that would require around 60 votes to overturn a Republican filibuster. Although it only takes all 50 Democratic Senators and Vice President Kamala Harris to break a tie, the reconciliation process makes Manchin and Sinema the most powerful two senators in the caucus.

Manchin has been clamoring since it voted on the reconciliation resolution in August pronounced against the price of 3.5 trillion US dollars and referred to rising inflation and commodity prices; the national debt due to trillions already fit for economic relief from COVID-19, much of which is not being spent; and the labor market, which has a shortage of willing workers.

In August, Manchin called for a « strategic break » in order to start the Build Back Better negotiations. Speaking to the Economic Club of Washington, DC on Tuesday, Manchin said he had called for a break as much of the $ 1.9 trillion American Rescue Plan Act, passed in March, has not yet been issued and many of the programs in Build Back Better are continuations of ARPA initiatives.

« Many of the things that are in this Law of Reconciliation were covered in ARP, » said Manchin. « If you look at the American rescue plan that we put in place, it covers a lot of things … through 2022 and 2023. So I didn’t see the urgency that someone would be left without any kind of cover. » The COVID pandemic.  »

According to multiple media reports, Manchin has since stuck to a $ 1.5 trillion price for the Build Back Better package, a stance that has led to several back and forth meetings between Manchin, Biden and other White House officials Democratic leaders in the Senate and House of Representatives.

It has even led to public clashes between Manchin and US Senator Bernie Sanders, the Vermont-independent Democratic Socialist who heads the Senate Budgets Committee. Sanders has called for full funding Pushed various social programs under Build Back Better, including the ability of the federal government to reduce drug prices for Medicare a negotiate and expand Medicare for dental and visual aid.

« I know who (Sanders) is and where he’s from, I just respectfully agree, » Manchin said Tuesday to David Rubenstein, President of the Economic Club . “I’ve always tried to put myself in the other person’s shoes, but I want the other person to understand who I am so that they can put themselves in who I am.”

Manchin’s view on the final price of Build Back Better has pissed off critics, but it comes as no great surprise compared to previous statements and actions by him since joining the US Senate in 2010 and during his two terms as governor of the state of West Virginia.

During Manchins During his tenure as governor, in 2006 he worked on a law to privatize state workers’ compensation. The state program had an uncovered liability of $ 3.5 billion when Manchin took office. The program has been spun off into privately owned Brickstreet Insurance (now Encova).

« Our labor debt is the Achilles’ heel of our state’s economy, and I firmly believe that this system needs to be fixed in order to create more good jobs in West. » To create Virginia, now. We can’t afford to wait a minute longer, « Manchin said at the time.

According to the West Virginia Offices of the Insurance Commissioner, total damage costs have fallen more than 78 percent since workers’ compensation was privatized in 2006 , with more than 300 airlines in the state offering workers’ compensation insurance. The state’s 2020 consolidated annual financial report said interest rates have been falling for 16 straight years, with employers saving $ 417 million. More importantly, the $ 3.5 billion uncovered liability $ 64 million in the original state-administered program by the end of fiscal 2020.

State Code requires the governor and legislature to pass a balanced budget each year. During his last state address in 2010 – just 11 months before winning a special election for the seat of the late US Senate Robert C. Byrd, Manchin set a reduced budget due to restrictions placed on all 50 states by the US government Great recession that started in 2008.

« While 2009 was a difficult year for many of us, our path to continued success is becoming even more challenging, » said Manchin. “West Virginia was better prepared than most states to weather the worst recession our state has faced in seven decades. Our preparation has served the people of the mountain state very well. ”

In his final year as governor, Manchin urged state authorities to cut their budgets by 3.4 percent – the first time Manchin has called for a budget cut in the middle of the year . The state used qualified school building loans that enabled school improvements at reduced costs.

In 2010, Manchin was one of only four governors to receive an « A » from the Fiscal Policy Report Card of the Libertarian Cato Institute. The report commended Manchin for calling for spending cuts during his two terms in office, with his fiscal 2011 budget just 9 percent higher than what was spent in Manchin’s first state budget in fiscal 2005.

« Joe Manchin of West Virginia was a popular governor for good reason, ”the report’s authors write. “The state economy has developed well under its fiscal policy of corporate tax cuts and relatively economical budget management. Some people lowered the corporate income tax rate, abolished trade tax and paid trade tax. Manchin also has a good track record of spending and has proposed cuts to the overall fund budget for most of the years. ”As he served the remainder of Byrd’s six-year tenure between 2010 and 2012, Manchin called for a balanced budget change to be passed. While Manchin opposed a House plan, Manchin used a speech in 2011 to urge both Republicans and Democrats to table a bipartisan change to the balanced budget Need a balanced budget, but only one that takes a responsible and sensible approach, ”said Manchin. « This is a time for us as Americans to come together, put our policies aside, and do what is right for the future of this generation and this country. »

At an event in South Charleston in 2011, Manchin expressed his support for amend the Udall-Shelby balanced budget and the Corker-McCaskill CAP Act to « limit and cut » federal spending. Similar to 2021, Manchin warned about the national debt 10 years ago.

« Our exploding national debt will cripple this nation, » said Manchin. “That will cost us countless jobs. It will stifle our ability to invest in vital priorities like energy, our children, and our communities. It will weaken our national defense and cause critical programs like Social Security and Medicare to fail. ”As of Thursday, the Build Back Better plan includes $ 400 billion for six years for universal pre-kindergartens and childcare, $ 150 billion for home care and $ 200 billion for child tax credit renewals, with monthly payments to households with incomes up to. It pays $ 150,000 per year.

The energy proposals in Build Back Better include $ 320 billion in 10-year expanded tax credits for clean energy projects; $ 105 billion for resilience investments to combat the effects of climate change; $ 110 billion to spur domestic supply chain investment to fuel the manufacture of solar panels, batteries, and advanced materials alongside steel, cement, and aluminum; and $ 20 billion in government purchases of next-generation clean technology.

Healthcare proposals include expanding the Affordable Care Act premium tax credits through 2025, including uncovered states for $ 130 billion, and the introduction of a hearing service for Medicare. The framework includes $ 150 billion in affordable housing, expanding access and reducing the cost of access to higher education and staff development, extending the income tax credit for one year for childless workers, and targeted investments for disadvantaged groups.

The Build Back Better plan is paid in part with a minimum corporate tax of 15 percent for large companies, a 1 percent surcharge for corporate share buybacks, and IRS investments to close loopholes and reclaim taxes. The Biden administration estimates the offsets could raise $ 1.995 trillion.

« As we work through the law, I hope we all continue to act in good faith and do what is right for the future of the American people. » , said Manchin on Thursday.

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