Stimulus Control Live Fourth Update: $ 8,000, Child Tax Credit, Medicare, COLA Benefits 2022 …

Manchin’s stance sees Goldman Sachs lowering US economic growth forecast

Joe Manchin’s position on the “Build Back Better” bill prompted the investment bank Goldman Sachs lowers forecast for US economic growth. Manchin’s rejection of the bill threatened to scuttle hundreds of billions of dollars in funding for climate change measures and to meet the Biden administration’s climate goals.

Manchin has expressed concern over a number of proposals in Biden’s domestic policy bill, including several climate proposals and the extension of monthly child tax credit payments.

Biden told reporters after Manchin’s rejection that he and the senator were “Will do something” on the legislation.

Manchin’s support is crucial in the Senate chamber where Democrats have the least amount of control and Republicans are united in their opposition to the bill. Senate Majority Leader Chuck Schumer has said the chamber will vote on a package in early 2022.

United States Representative Pramila Jayapal, one of the top Liberal Democrats in the House, asked Biden to continue focusing on social spending legislation and urged him to resort to executive action despite Manchin’s public rejection of the plan.

Source link

About John Tuttle

Check Also

Advances in wearable medical devices, now and in the future

The size of the global wearable medical device market is expected to grow at a …