Manchin told White House he would support Billionaire Tax version: report
Senator Joe manchinJoe ManchinStaying with Joe Manchin Biden finds par with black voters Manchin told the White House last week he would support version of billionaire tax: MORE report (DW.Va.) reportedly told the White House last week that he was prepared to back some version of a billionaire tax as part of the party’s social spending and climate agenda before effectively reducing the chances of Democrats pass the legislation announcing it would not support the effort.
The Washington Post, citing three people familiar with Manchin’s private offer, reported on Friday that the centrist Democrat had listed a billionaire wealth tax as a potential way to fund the party’s investments in the Build Back Better Act.
A billionaire wealth tax has reportedly appeared at the bottom of a list of spending and income proposals supported by Manchin. It is not clear whether Manchin wrote a revenue estimate in his offer, according to the Post.
The billionaire tax was reportedly part of Manchin’s $ 1.8 trillion counter-offer the West Virginia Democrat presented to the White House before ending negotiations on Sunday. His proposal included a universal preschool for a decade, an ObamaCare expansion and hundreds of billions of dollars to fight climate change, according to the Post.
It did not, however, include an extension of the expanded child tax credit, which is expected to expire this month if no action is taken, according to the Post.
Manchin presented his counter-offer days before effectively crushing the party’s chances of passing the roughly $ 2 trillion bill, announcing on “Fox News Sunday” that he could not support the bill. of law and that it was a “no” on the package.
The announcement follows months of negotiations between White House officials and congressional lawmakers.
Manchin’s openness to the introduction of a billionaire tax appears to be a change in his stance. He said in October that he didn’t like the idea of targeting only the richest 700 Americans to fund much of the party’s spending program.
His comments came after the chairman of the Senate finance committee Ron wydenRonald (Ron) Lee WydenManchin told the White House last week he would support a version of the billionaire tax: report Democrats seek to cut Biden bill to pass Senate Democrats request information on PLUS nursing home boosters (D-Ore.) Unveiled legislation that called for taxing billionaires and people who have made $ 100 million or more in three consecutive years.
” I do not like it. I don’t like the connotation that we’re targeting different people, ”Manchin said when asked about Wyden’s legislation.
He said that very rich people “bring in a lot of jobs, invest a lot of money, and donate to philanthropic activities.”
“There’s a lot going on. There’s a lot going on with that. It’s very complicated,” he added at the time.
The Hill has contacted Manchin’s office for comment.
–Updated December 25 at 7:29 a.m.