Biden agenda: Joe Manchin pushes back on billionaire tax
Manchin, a moderate Democrat from West Virginia, also pushed back on a number of key social programs demanded by liberals, including paid family leave and Medicare expansion, underscoring how far Democrats are from finding a workable compromise even as leadership pushes for a framework agreement this week.
Asked by CNN if he supports a proposed billionaire tax, Manchin sounded skeptical. “I don’t like it. I don’t like the connotation that we’re targeting different people. There’s people that basically, that contribute to society, that create a lot of jobs, and invest a lot of money, and give a lot to philanthropic pursuits,” he said
Democrats are facing significant issues over how to pay for the social safety net plan after another key moderate — Sen. Kyrsten Sinema of Arizona — made clear she opposed raising the corporate tax rate and the top marginal rate on individuals, which Democrats had originally wanted to finance the plan.
House Speaker Nancy Pelosi of California on Wednesday outlined key unresolved issues to a deal as well as priorities that Democrats have coalesced behind.
In a letter to fellow Democrats, Pelosi said there is “broad agreement” for universal pre-K and child care, the child tax credit, home health care, workforce development and housing. She also said “great progress has been made” to address gaps in Medicaid coverage at the state level and “we are pleased with the robust climate package.” But the speaker made clear what the sticking points are, saying that “we are still fighting for a paid family and medical leave provision.”
Resistance to billionaire tax creates problem for Democrats
Amid resistance from Manchin and another Senate Democrat, Virginia’s Mark Warner, over the billionaire tax, Democrats are once again scrambling to find a way to pay for the plan. Sen. Elizabeth Warren, a Massachusetts Democrats, said talks were “ongoing” with Manchin to ease his concerns.
Sen. Bernie Sanders, a Vermont independent who caucuses with the Democrats and serves as chairman of the Senate Budget Committee, told reporters Wednesday that given the massive impasse on revenue right now, he doesn’t see a path to get a deal on a framework Wednesday or hold a vote on a separate bipartisan infrastructure bill this week.
“I don’t think so,” Sanders said. “I’m not quite clear In terms of the revenue package. Every sensible income option seems to be destroyed.”
Senate Finance Chairman Ron Wyden, an Oregon Democrat, insisted the billionaire tax is not dead. “I have not heard any senator say that they don’t believe in billionaires paying their fair share.”
Democrats cannot afford to lose a single vote in the Senate to pass the package, giving Manchin and Sinema outsized influence. The two moderates have taken a lead role in dictating the terms of the negotiations, a dynamic that has angered and frustrated progressives who have watched some of their key priorities scaled back or cut from the proposal entirely.
A meeting Tuesday night with Manchin at the White House yielded no significant breakthrough on Biden’s economic package, leaving it unclear whether any deal can be reached imminently, two sources familiar with matter told CNN. White House…
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