Democrat Senator Joe Manchin recently shocked the nation by declaring he would support the Biden administration’s gargantuan $730B budget reconciliation bill, which is widely rumored to be stuffed with an array of giveaways for the so-called Green New Deal.
The West Virginia senator has long been vocally opposed to the Biden administration’s immense spending packages, and his agreement to support the mega-billion dollar bill comes as a surprise and disappointment to individuals who viewed Manchin as playing a huge role in keeping spending-addicted Democrats in check.
However, Democrat Senator Krysten Sinema, who hails from Arizona, has demonstrated resistance towards excessive federal spending, especially during a recession.
Manchin has subsequently approached Sinema, apparently in a bid to influence her to vote in favor of the $730B bill.
“I’m sure we’ll get a chance to speak today because she usually comes in [today], and we’ll speak on the floor,” Manchin informed reporters, according to a report from The Hill.
The bill will include a number of different tax provisions that theoretically fund the various pet projects that the federal government is interested in pursuing.
For instance, the legislation intends to use a 15 percent minimum corporate tax rate in order to raise up to $313B in the next ten years, as well as close a “carried interest” loophole for different investors, which in turn will raise an additional $14B, according to the report.
Manchin laid out several reasons for his apparent change in heart regarding the legislation.
“Rather than risking more inflation with trillions in new spending, this bill will cut the inflation taxes Americans are paying, lower the cost of health insurance and prescription drugs,” Manchin noted.
The West Virginia senator also claimed that the bill will “ensure our country invests in the energy security and climate change solutions we need to remain a global superpower through innovation rather than elimination.”
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