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Manchin, Biden Negotiates Over Social Spending and Climate Policy; Child Tax Credit Could Be Extended

Democratic talks with Manchin and Biden social spending and climate policy bill show signs of melting down (Photo Salon)
Democratic negotiations with Sen. Joe Manchin (D-W.Va.) over President Biden’s social spending and climate policy bill are close to founder. Moreover, Manchin agreed to extend the child tax credit for one year.

Democratic negotiations with Sen. Joe Manchin (D-W.Va.) over President Biden’s social spending and climate policy bill are close to founder. Moreover, Manchin agreed to extend the child tax credit for one year.

Democratic talks with Manchin and Biden social spending and climate policy bill show signs of melting down (Photo CNBC)

Democratic negotiations with Sen. Joe Manchin (D-W.Va.) over President Biden’s social spending and climate policy bill are close to founder. Moreover, Manchin agreed to extend the child tax credit for one year.

Talks Between Manchin and Biden Over the Build Back Better

CNN had an interview with a source about the conversation between Manchin and Biden over the BBB Bill are “very far apart.” Moreover, several reasons that Senate Democrats are not convinced to vote for the BBB legislation in addition to the holdup with Manchin. Some issues, such as how to deal with a contentious state and local tax deduction, have still to be formalized, reviewed, and resolved in the legislation.

Manchin told reporters on Wednesday that “nothing remains to vote on” as long as the Byrd bath, a parliamentary procedure named after late Democratic Senator Robert Byrd of West Virginia that must be completed before Democrats can take up the bill. “We haven’t even gotten anything back from the parliamentarian, so just procedurally, we don’t have anything to vote on,” Manchin said when asked if Build Back Faster could pass before Christmas.

Democratic senators say it’s now highly unlikely that Biden’s climate and social spending bill will be voted on before Christmas, though Senate Majority Leader  Charles Schumer  (D-N.Y.) hasn’t said whether the bill will be delayed until 2022. At a lunch meeting for Democratic committee chairs, Senators were due to hear from Schumer on the next steps for the Build Back Better Act.

Manchin’s Agreed Expanded Child Tax Credit

As part of the American Rescue Plan Act enacted in March, Democrats went to great lengths to enhance the child tax credit, allowing monthly payments of up to $300 per child under the age of six and $250 per child aged six to seventeen. The payments, which are seen to be helping to reduce child poverty and hunger, are slated to expire at the end of the year but would be extended until 2022 under the Build Back Better Act.

It was agreed to be extended by Manchin. The concept is now circulating to prolong the child tax credit for many years to fully represent the cost of a proposal that is expected to be extended by the  Congress in the future towards Biden’s Build Back Better bill, which is now officially projected to cost founding around $2 trillion over ten years. According to a Democratic source, Manchin is attempting to alter what Biden’s closest advisers thought was an agreement on the child tax credit.

Earlier this year, after Manchin requested it, the White House agreed to limit the expanded child tax credit, according to the source. But, according to the source, Manchin wants the tax credit to be extended for several years so that the real 10-year cost of Build Back Better isn’t misrepresented.

Manchin wants to eliminate the bill’s enhanced child tax credit. with a source telling CNN that he wants to “zero it out.” Further, there are talks that Manchin is opposed to extending the child tax credit. Manchin on Wednesday angrily denied saying “I’m not opposed to the child tax credit, I’ve never been opposed to the child tax credit,” he insisted, as the Senator lost his temper on the issue. He also denied allegations that he plans to get rid of the child tax credit if the bill’s projected cost does not presume it will be renewed for more than a year, calling them “a lot of stupid stories.”