In the latest indication President Joe Biden's massive, socialist and overreaching domestic policy agenda is on the ropes, Senator Joe Manchin (D-WV) again came down firmly against the $3.5 trillion reconciliation bill Thursday afternoon.
"I'm just not, so you know, I cannot accept our economy or basically our society moving toward an entitlement mentality, that you're entitled," Manchin told reporters on Capitol Hill. "I'm more of rewarding because I can help those who really need help if those who can help themselves do so."
"I cannot accept our economy, or basically our society, moving towards an entitlement mentality."
— The Recount (@therecount) September 30, 2021
— Sen. Joe Manchin (D-WV) says his hesitancy regarding reconciliation is because he is prioritizing "means testing." pic.twitter.com/w9tuVPPJ7j
The statement comes after news broke Manchin offered Majority Leader Chuck Schumer, and effectively the White House, a $1.5 trillion compromise back in July.
The West Virginia senator has been distributing the document to Democratic colleagues and leaders in recent days to underscore that he has outlined his red lines on President Joe Biden’s jobs and families plan. The one-page understanding is dated July 28, right before the Senate passed a bipartisan infrastructure bill that Manchin helped write and ahead of Senate passage of a budget setting up a spending bill as large as $3.5 trillion," POLITICO reports. "In the document, Manchin proposes raising the corporate tax rate to 25 percent, the top tax rate on income to 39.6 percent, raising the capital gains tax rate to 28 percent and says that any revenue from the bill “exceeding” $1.5 trillion will go to deficit reduction."
Wednesday night Manchin issued a blistering statement against the bill, calling it "fiscal insanity" designed to reengineer the country. From his office:
"Every Member of Congress has a solemn duty to vote for what they believe is best for the country and the American people, not their party. Respectfully, as I have said for months, I can’t support $3.5 trillion more in spending when we have already spent $5.4 trillion since last March. At some point, all of us, regardless of party must ask the simple question – how much is enough?
What I have made clear to the President and Democratic leaders is that spending trillions more on new and expanded government programs, when we can’t even pay for the essential social programs, like Social Security and Medicare, is the definition of fiscal insanity. Suggesting that spending trillions more will not have an impact on inflation ignores the everyday reality that America’s families continue pay an unavoidable inflation tax. Proposing a historic expansion of social programs while ignoring the fact we are not in a recession and that millions of jobs remain open will only feed a dysfunction that could weaken our economic recovery. This is the shared reality we all now face, and it is this reality that must shape the future decisions that we, as elected leaders, must make.
Since the beginning of this reconciliation debate, I have been consistent in my belief that any expansion of social programs must be targeted to those in need, not expanded beyond what is fiscally possible. Our tax code should be reformed to fix the flaws of the 2017 tax bill and ensure everyone pays their fair share but it should not weaken our global competitiveness or the ability of millions of small businesses to compete with the Amazons of the world. Overall, the amount we spend now must be balanced with what we need and can afford – not designed to reengineer the social and economic fabric of this nation or vengefully tax for the sake of wishful spending.
In August, I recommended we take a strategic pause to provide time to develop the right policies and to continue to monitor how the pandemic and economic factors are affecting our nation’s fiscal situation before we spend more. Throughout September, I have made it clear to all those who would listen the need to means test any new social programs so that we are helping those who need it the most, not spend for the sake of spending.
While I am hopeful that common ground can be found that would result in another historic investment in our nation, I cannot – and will not - support trillions in spending or an all or nothing approach that ignores the brutal fiscal reality our nation faces. There is a better way and I believe we can find it if we are willing to continue to negotiate in good faith.
If there is one final lesson that will continue to guide me in this difficult debate ahead it is this: America is a great nation but great nations throughout history have been weakened by careless spending and bad policies. Now, more than ever, we must work together to avoid these fatal mistakes so that we may fulfill our greatest responsibility as elected leaders and pass on a better America to the next generation.”