Well, Joe Manchin's top line has been made public and if you are on the more left-wing side of the Democratic Party, it is not a happy number.
The West Virginia Senator came out publicly and said his top line for the Democratic Budget Reconciliation Plan (also known as the Biden/Harris Build Back Better Plan) is about $1.5 trillion.
Of course, Mr. Manchin, in public remarks meant for his West Virginia voter constituency, further irked progressives in his caucus when he told reporters today (September 30, 2021:)
"I've never been a liberal in any way, shape, or form. I don't fault any of them who believe that they're much more progressive and much more liberal, God bless them. And all they need to do is, we have to elect more liberals.”
Apparently, Mr. Manchin, not wanting to face his Senate colleagues did not appear at a Democratic luncheon in the upper chamber.
While Manchin's public comments may be surprising to many that have not been paying attention (he has hinted at this approximate dollar figure for a while on virtually any interview show that will make time for him,) what is revealing (and potentially disturbing) is that the West Virginia Senator formalized what he would support in a joint letter/memo with Senate Majority Leader Chuck Schumer two months ago.
In the July 28, 2021 letter, Manchin said he would support:
- A $1.5 trillion reconciliation bill.
- Expansion and creation of programs but with spending caps and means-testing.
- Monies and tax credits for clean energy as long as there are the same for fossil fuels and hydrogen clean energy projects.
- Funding to combat opioid addiction.
- Excess revenue receipts would be targeted toward deficit reduction.
- Corporate Tax Rate up to 25 percent.
- Personal Income Tax rate up to 39.6 percent.
- Minimum corporate tax of 15 percent.
- Capital Gains rate up to 28 percent.
Apparently, according to reporting from Politico, Schumer and President Biden have known about Kyrsten Sinema's spending targets since August
The content of the Manchin letter and the Politico reporting on Sinema begs the question. If Schumer, and Biden, have known what Manchin and Sinema's ballpark numbers were, why have Democrats not been spending the last two months crafting a Build Back Better Plan with a price tag in that range? Why all this political theater to everyone's base and posturing when people on all sides of the Democratic Party should have been working to achieving the finalization of legislation that would fund major progressive goals like:
- Providing dental and vision insurance to Medicare Recipients.
- The extension of the Child Tax Credit.
- Increased pell grants and free community college.
- Universal Pre K.
- Paid family leave.
- Investments in child and home care.
- Combatting climate change and investing in clean energy.
In an article written earlier in September 2021, this writer told readers not to be surprised if the reconciliation plan was somewhere between $1.5 and $2 trillion.
It looks like that prediction may come true.
Now that the Manchin numbers and priorities are now known, it can serve as a starting point to conclude negotiations and pass both the physical and social infrastructure bills by October 17.
Why then?
Because any budget reconciliation legislation needs to include an increase in the debt limit.
Secretary of Treasury Yellen said the government will run out of money by October 18, 2021, if the debt limit is not raised.
While Progressives are right to point out that the $1.5 to $2 trillion price tag is probably insufficient to meet all the country's and planet's urgent needs, it is far better to take part of the loaf now, do some good for the American People, move the country forward, and hope the voters reward the Democrats and elect more of them that will make the need of counting on the votes of Ms. Sinema and Mr. Manchin moot.
The voters will definitely not reward them if they do not pass either.
