Holdout Sen. Manchin agreeable to wealth tax for Biden plan, source says

Holdout Sen. Manchin agreeable to wealth tax for Biden plan, source says

10/25/2021 1:33:00 PM

Holdout Sen. Manchin agreeable to wealth tax for Biden plan, source says

President Biden’s proposals for new taxes on billionaires and companies to help fund his domestic agenda has the apparent backing of Sen. Joe Manchin.

President Biden ties his priorities on voting rights, police reform and climate change to Martin Luther King Jr.'s push for racial justice.Biden met with Manchin and Schumer at his Wilmington, Del., home after Democrats missed last week’s deadline to resolve disputes. Biden has said that he would like to see a $2-trillion package and that they are trying again this upcoming week to reach agreement.

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It’s unclearwhat level of the new taxesManchin would support, but he generally backs the White House proposals, according to the person who requested anonymity to discuss Manchin’s position. Neither person requesting anonymity was authorized to discuss the negotiations by name.

The White House said the breakfast meeting was a “productive discussion” about the president’s agenda. The talks appeared to last for hours, but no decisions were announced. The Democrats “continued to make progress,” the White House said in its post-meeting statement. headtopics.com

Resolving the revenue side is key as the Democrats insist that the new spending would be fully paid for by the various taxes.Harris blasts Republicans for blocking voting rights billVice President Kamala Harris, at an event marking the 10th anniversary of the unveiling of the Martin Luther King Memorial in Washington, vows to keep fighting for voting access.

Manchin and another Democrat, Sen. Kyrsten Sinema of Arizona, have almost on their own halted Biden’s proposal from advancing. With Republican opposition and an evenly split 50-50 Senate, Biden has no votes to spare, and the two Democratic senators have insisted on reducing the size of the enormous package and pressed for other changes.

One key debate has been over the revenues to pay for the package, after Sinema rejected an earlier plan to reverse the Republican-led 2017 tax cuts and raise rates on corporations earning more than $5 million a year and wealthy Americans earning more than $400,000, or $450,000 for couples.

Instead, the White House is considering atax on the investment incomes of billionaires— fewer than 1,000 of the wealthiest Americans with at least $1 billion in assets. It also has floated a 15% corporate minimum tax that is designed to ensure that all companies pay what Biden calls their “fair share,” ending the practice of some big-name firms paying no taxes. headtopics.com

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Democrats initially planned that Biden’s package would contain $3.5 trillion of spending and tax initiatives over 10 years. But demands by moderates led by Manchin and Sinema to contain costs mean its final price tag could well be less than $2 trillion.

Disputes remain over far-reaching investments, including plans to expand Medicare coverage with dental, vision and hearing aid benefits for seniors; child care assistance; and free pre-kindergarten.Pelosi said on CNN that Democrats were still working to retain provisions for four weeks of paid family leave but acknowledged that other proposals such as

expanding Medicare to include dental coveragecould prove harder to save because of cost.Pelosi reiterated that about 90% is wrapped up and said she expected an agreement by week’s end, paving the way for a House vote on a separate $1-trillion bipartisan infrastructure bill before Sunday, when a series of transportation programs lapse. The Senate approved over the summer the package of road, broadband and other public works projects, but the measure stalled in the House during deliberations on the broader Biden bill.

Read more: Los Angeles Times »

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Sen. Bernie Sanders said expansions to medicare are 'not coming out' of spending bill, contradicting BidenSen. Bernie Sanders said a Medicare expansion of dental, vision, and hearing coverage will remain a part of the spending package, contradicting remarks made by President Joe Biden earlier this week. 🤡🤡🤡🤮🤮🤡🤡🤡 colormesheesh SenSanders is always fighting on behalf of the American people. We are so lucky to have him. It's amazing that people complain about Manchin when Sanders is just as bad. He would rather pass nothing than to compromise and pass something. Opposite extremes

Biden to host Manchin in Delaware to discuss finalizing spending billPresident Joe Biden will host critical moderate Sen. Joe Manchin and Senate Majority Leader Chuck Schumer at his home in Delaware on Sunday morning in a push to finalize an agreement on a sweeping economic and climate package, a White House official tells CNN Sen_JoeManchin is bringing level and sensible negotiations to an unstable mind. Acosta Manchen is corrupt,no matter how many meetings you hold he Is not going to change.Kick him out of the Democratic Party. What the f*ck is moderate about Joe Manchin? As we sit with half the country on fire & the other underwater... as millions struggle under medical & student debt... a better question would be: What the f*ck is a moderate? Just a gutless corporate puppet in a blue tie! Do better!

Schumer, Manchin to meet with Biden in DelawareSen. Joe Manchin, D-W.Va., will be meeting with both President Biden and Senate Majority Leader Chuck Schumer, D-N.Y., on Sunday, Fox News has confirmed, as Democrats continue to have trouble agreeing to terms on a massive social spending bill to go alongside a bipartisan infrastructure bill.

China Plans Property-Tax Trials as It Targets SpeculationChina has turned the screws on overleveraged property developers. Now, it’s planning for lengthy trial runs of property tax in some places as plans for a nationwide levy runs into resistance. The reasons why China beat America in coronavirus crisis. Thank you Wall Street Journal, owned by Rupert Murdoch and News Corp. kalau tiada anak lelaki yang banyak.... sekarang komposisi gender tak banyak terjadi gap.... logikanya kemana yang 'perempuan'....?

Biden hosts Schumer, Manchin in Delaware as Congress inches towards a spending dealPresident Biden to host Sens. Schumer and Manchin in Delaware as Democrats work to secure a deal on legislation that would enact the administration's social safety net agenda, 3 officials say. If Manchin and Sinema actually did what is right they would go from zeros to heros. There are over 300,000,000 Americans but this guy gets to say what benefits we can and cannot have from our tax payments and how quickly we can reduce the carbon emissions that are flooding the gulf coast and burning California. Is that the right way to govern?

Biden hosting budget talks in Delaware with Schumer, ManchinPres. Joe Biden hosted Senate majority leader Chuck Schumer and Sen. Joe Manchin in Delaware with hopes of resolving lingering disputes over Democrats' long-stalled effort to craft an expansive social and environment measure, the White House said. Lol. Power hungry much? STAND YOUR GROUND JOE! Tell them we do not want this bullshit! I wonder who Manchin will disappoint - Chuck Schumer or the people of his state. I am thinking the people of West Virginia WVpolitics mepolitics