Monday 1 August 2022 07:06 PM Manchin REJECTS claim that Democrats' spending bill hikes taxes, vows to speak ... trends now

Monday 1 August 2022 07:06 PM Manchin REJECTS claim that Democrats' spending bill hikes taxes, vows to speak ... trends now
Monday 1 August 2022 07:06 PM Manchin REJECTS claim that Democrats' spending bill hikes taxes, vows to speak ... trends now

Monday 1 August 2022 07:06 PM Manchin REJECTS claim that Democrats' spending bill hikes taxes, vows to speak ... trends now

West Virginia Democrat Senator Joe Manchin on Monday rejected the findings of a study that claimed his party's latest spending proposal would raise taxes on Americans in every income bracket.

'Agree to disagree,' Manchin said when asked about the nonpartisan study shared by Republicans on the Senate Finance Committee on Saturday.

The moderate Democrat also told reporters that he would be speaking with fellow centrist, Senator Kyrsten Sinema, later the same day to persuade her to get onboard, according to CNN

With Democrats' razor-thin 50-50 split in the Senate, every member needs to vote in lock-step for the budget bill for it to pass via reconciliation. The process would allow the package to bypass the need for Republican support.

But if the higher penalties become a reality it would put President Joe Biden, who promised to not raise taxes on Americans making less than $400,000 per year, in an uncomfortable political position.

The study by the Joint Committee on Taxation found that taxpayers bringing in less than $200,000 per year would see their taxes raised by $16.7 billion over a decade.

Speaking to reporters on Capitol Hill on Monday, Manchin vowed the Inflation Reduction Act of 2022 would not cause 'one penny of change' for American taxpayers making less than that amount. 

'We looked at taking everything out that could be looked at to fanning the fires of inflation or inflaming it. And there's nothing there,' he said according to Fox News.

West Virginia Democrat Senator Joe Manchin spoke to reporters on Monday amid negotiations over his party's latest attempt at passing a budget bill without Republican support

West Virginia Democrat Senator Joe Manchin spoke to reporters on Monday amid negotiations over his party's latest attempt at passing a budget bill without Republican support

Manchin said the bill would not cause 'one penny of change' to the taxes of Americans earning less than $200,000 per year

Manchin said the bill would not cause 'one penny of change' to the taxes of Americans earning less than $200,000 per year

''We looked at taking everything out that could be looked at to fanning the fires of inflation or inflaming it. And there's nothing there,' Manchin told the press

''We looked at taking everything out that could be looked at to fanning the fires of inflation or inflaming it. And there's nothing there,' Manchin told the press

Manchin and Sinema's opposition has derailed Democrats' more progressive attempts to pass a spending bill, such as Build Back Better, as well as efforts to pass voting rights reform and abortion protections.

But all eyes are all on the Arizona senator - who was notably excluded from the latest deal and reportedly blindsided by its announcement. 

Sinema has not said whether she will support the bill yet, but it was reported by NBC Sunday that a source close to the lawmaker pointed out that it contains a revenue-generating tax that Sinema has long opposed.

It comes as all eyes on Capitol Hill fall to Arizona Senator Kyrsten Sinema, who has not yet said whether she will support the bill

It comes as all eyes on Capitol Hill fall to Arizona Senator Kyrsten Sinema, who has not yet said whether she will support the bill

At the same time, Manchin went to bat for the package on all five major news networks' Sunday shows. During those appearances he also indirectly tried to court Sinema's support. 

'Senator Sinema is my dear friend. I have all the respect for her, she's extremely bright and works very, very hard,' Manchin said.

'She has an awful lot in this piece of legislation, the way it's been designed as far as the reduction of Medicare...She's very involved in that and I appreciate that.'

He told CNN's State of the Union that Sinema had 'formed quite a bit of it and worked on it very hard.'

The projected tax increase comes from the JCT's anticipated effect of the package's 15 percent minimum corporate rate, the burden of which it suggests is passed down to workers and shareholders.

It also factors in possible effects on the stock market that would affect company shareholders and people who rely on pensions and other similar funds. 

The JCT

read more from dailymail.....

PREV Sunday 7 August 2022 06:49 PM EMILY PRESCOTT: Dominic West's Italian return in sunset dinner with wife ... trends now
NEXT Sunday 7 August 2022 07:16 PM Liz Cheney calls DeSantis a 'dangerous' 2024 candidate as GOP Senator avoids ... trends now