Democrats’ Aspirations for Higher Taxes Receives Fatal Blow

Late in the evening on July 14, Sen. Joe Manchin (D-W. Va.) reportedly killed any hope for a scaled down version of the Build Back Better (BBB) social spending package, which had picked up steam in closed-door inter-party negotiations among Democrats in the Senate.

According to reports, Manchin told party leadership that he would not accept any package that creates new climate spending or raises taxes from their post-2017 levels, the two main pillars of Democrats’ hopes for the renewed BBB.

Though the move is a major blow for Democrats, who were hoping to use the package as a campaign point during a season expected to go heavily in Republicans’ favor, it is not entirely surprising.

On July 11, Manchin spokesperson Sam Runyon rejected any reports that a deal on a scaled-down BBB was close, saying that many of Manchin’s concerns about the proposals remained “unresolved.”

“Suggestions that a reconciliation deal is close are false. Sen. Manchin still has serious unresolved concerns, and there is a lot of work to be done before it’s conceivable that a deal can be reached he can sign onto,” Runyon said.

Then, on July 14, the Department of Labor released (pdf) its latest Consumer Price Index (CPI), which showed that consumer prices had continued to rise, exceeding expectations and averaging an increase of 9.1 percent across the board over the past 12 months.

The CPI showed that energy has been the hardest hit, with costs rising by around 41.6 percent across the board for all types of energy. Gasoline prices have risen by a staggering 98.5 percent.

Other essentials have also been hard hit: in the past 12 months, the cost of food has gone up an average of 10.4 percent.

In a July 13 statement, Manchin, who has long been vociferous in calling for his


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