AP source: Manchin agreeable to wealth tax for Biden plan
ABC News
White House proposals for new taxes on billionaires and certain corporations to help pay for President Joe Biden’s big domestic policy bill is drawing the backing of Democratic Sen. Joe Manchin
WASHINGTON -- Pivotal Democratic Sen. Joe Manchin appears to be on board with White House proposals for new taxes on billionaires and certain corporations to help pay for President Joe Biden’s scaled-back social services and climate change package.
Biden huddled with the conservative West Virginia Democrat and Senate Majority Leader Chuck Schumer at the president’s Delaware home Sunday as they work on resolving the disputes between centrists and progressives that have stalled the Democrats’ wide-ranging bill. A person who requested anonymity to discuss Manchin’s position told The Associated Press the senator is agreeable to the White House's new approach on the tax proposals.
What had been a sweeping $3.5 trillion plan is now being eyed as $1.75 trillion package. That’s within a range that could still climb considerably higher, according to a second person who requested anonymity to discuss the private talks.
House Speaker Nancy Pelosi said that even at “half” the original $3.5 trillion proposed, Biden’s signature domestic initiative would be larger than any other legislative package with big investments in health care, child care and strategies to tackle climate change.
