Manchin criticizes Democrats’ billionaire tax plan for ‘targeting’ the wealthy – live

Joe Manchin applauded Joe Biden for his handling of the negotiations over the reconciliation package, which have now dragged on for months.

“He’s trying to meet everybody halfway, and I appreciate that,” the centrist Democratic senator told reporters on Capitol Hill.

Emphasizing that he and Biden are negotiating in good faith when it comes to the reconciliation package, Manchin once again implored House progressives to allow the bipartisan infrastructure bill to pass the lower chamber.

“He is giving everything he has to this. People have to respect that,” Manchin said. “The only we’re asking for is, vote on a piece of legislation that’s already been bipartisan.”

House progressives insist they will not support the infrastructure bill until the reconciliation package gets a vote as well, and their unified stance has blocked the legislation’s passage for weeks.

Progressive congresswoman Cori Bush reiterated that view yesterday, after speaker Nancy Pelosi suggested an agreement on the framework of the reconciliation bill should be enough to trigger a vote on the infrastructure bill.

Centrist Senator Joe Manchin was also asked about a demand from Senate budget committee chair Bernie Sanders that the reconciliation package must expand Medicare to include vision, dental and hearing coverage

Manchin said he is “absolutely concerned” about the national deficit and the long-term health of existing government programs.

“In good conscience, I have hard time increasing basically benefits, which all of us can agree that, hell I’d loved to have this, and love to have that, when you can’t even take care of what you have,” Manchin said.

The West Virginia senator voiced similar concerns about the proposed paid family leave program, arguing the provision does not make fiscal sense.

“To expand social programs when you have trust funds that aren’t solvent, that are going insolvent — I can’t explain that. It doesn’t make sense to me,” Manchin said. “I just can’t do it.”

Centrist Senator Joe Manchin has voiced criticism of a proposed tax on billionaires to help pay for Democrats’ reconciliation package.

Speaking to reporters on Capitol Hill, the West Virginia senator argued wealthy Americans should pay a “patriotic tax” of 15% to ensure that all citizens are giving something back to their country.

But when it comes to the billionaire tax, Manchin said, “I don’t like it. I don’t like the connotation that we’re targeting different people.”

Manchin argued wealthy Americans had “contributed to society and create a lot of jobs and invest a lot of money and give a lot to philanthropic pursuits”.

He added, “But it’s time that we all pull together and grow together.”

If Democrats cannot get the billionaire tax in the reconciliation package, it’s unclear how they will fully pay for the bill, which has been a major selling point for centrist members of the congressional Democratic caucus.

Senate majority leader Chuck Schumer said a deal on Democrats’ reconciliation package is “within arm’s length,” after months of negotiations.

Speaking on the Senate floor, the Democratic leader said the caucus had “another productive day” of talks yesterday, and meetings between lawmakers and Joe Biden will continue today.

“An agreement is within arm’s length, and we are hopeful that we can come to a framework agreement by the end of today” Schumer said.

The majority leader added, “But we must, we must continue working a little more to make sure it is the best deal possible for the American people.”

Schumer specifically cited strengthening Medicare and lowering prescription drug prices as two issues that Democrats must address in their negotiations.

Those two issues are key priorities for Senate budget committee chairman Bernie Sanders, who has expressed concern about Biden’s comments indicating they will not be addressed in the reconciliation bill.

According to a summary of Democrats’ proposed billionaire tax, the policy would impact about 700 taxpayers and raise hundreds of billions of dollars.

“Working Americans like nurses and firefighters pay taxes with every paycheck, while billionaires defer paying taxes for decades, if not indefinitely,” reads the summary, which was released by Democratic Senator Ron Wyden’s office.

“The tax code’s preferences for capital income over wage income fuel the concentration of dynastic wealth among the nation’s billionaires.”

Joe Biden met with centrist Democratic Senators Joe Manchin and Kyrsten Sinema last night, the White House confirmed.

A White House official told the press pool, “The President hosted Senator Manchin and Senator Sinema at the White House yesterday to continue their negotiations on the Build Back Better Act, and how we can grow our economy in a way that deals the middle class back in and gives them breathing room.

“The three made progress on top of what has been accomplished in recent days, and look forward to next steps so that we can equip Americans for high-paying jobs, deliver historic investments to make health care and child care more affordable for American families, and take on climate change.”

According to Axios, Manchin and Sinema are now at odds over a proposed billionaire tax to help pay for the reconciliation bill, with Manchin against the idea and Sinema supporting it.

Kyle Vass reports from West Virginia:

The rise of Joe Manchin as a key power player for Democratic policymaking in 2021 is the result of a perfect storm for the US senator from West Virginia.

His position as the Senate’s most conservative Democrat means he often has final say in what his party is able to push through, especially when it comes to Joe Biden’s ambitious domestic agenda on infrastructure, far-reaching social policies and a powerful attempt to tackle the climate crisis.

A drive through West Virginia’s countryside – which is still enthusiastically Donald Trump country – reveals a patchwork of communities battered by the climate crisis and barely held together by deteriorating infrastructure.

Yet Manchin – balking at a $3.5tn price tag of Biden’s reconciliation bill – is busy trying to strip out many of the policies that would try to tackle these crises that are so seriously affecting many of his fellow West Virginians.

Read the Guardian’s full report:

Joe Manchin is throwing another wrench in Democrats’ negotiations over the reconciliation package: the centrist senator has reportedly expressed concern about the proposed billionaire tax to help pay for the legislation.

Axios reports:

The senator’s doubts reveal an uncomfortable truth for the White House and congressional leaders as they race to finish — and pay for — their nearly $2 trillion social spending and climate package: A tax solution designed to satisfy Sen. Kyrsten Sinema (D-Ariz.) isn’t necessarily acceptable to Manchin.

The billionaire tax gained currency over the weekend because Sinema, a fellow moderate and key negotiator, signaled her opposition to corporate, personal and capital gains tax hikes. Manchin’s potential opposition to the billionaire-tax proposal would blow a $200 billion to $250 billion hole in the Democrats’ plans for new revenues.

Manchin had indicated he was waiting to see the text of the proposal, which was released this morning, before making a decision on the billionaire tax.

But if he vetoes the idea, it could jeopardize Joe Biden’s oft-repeated claim that the bill is fully paid for, which has become a major selling point among the centrist members of the congressional Democratic caucus.

Greetings from Washington, live blog readers.

Joe Biden will leave for Europe tomorrow, and Democrats are racing to reach a deal on their reconciliation package before the president departs.

Democrats have expressed confidence that they are nearing an agreement, but many questions remain over key elements of the bill, including climate initiatives and a national paid family leave program.

A number of progressives have expressed concern about the expected cuts to the climate provisions in the bill, which have been demanded by centrist Senator Joe Manchin.

If Biden arrives for the Cop26 climate conference in Glasgow next week after being unable to pass significant climate legislation in his own country, it could harm his credibility on the world stage.

Speaking to reporters yesterday, White House press secretary Jen Psaki acknowledged that Biden would prefer to leave for Europe with a deal in place.

“But it is also important to note that we have made a significant amount of progress and we are almost there,” Psaki added.

“We are all on the verge of passing a bill that is the largest investment in addressing the climate crisis in history. And, of course, global leaders take note of that, too.”

The blog will have more coming up, so stay tuned.