Biden-Manchin Meeting Makes ‘Progress' in Bid to Break Deadlock

Asia's Tech News Daily

(Bloomberg) — The White House said President Joe Biden made progress on his big tax-and-spending plan in a meeting with key moderate Senator Joe Manchin and Majority Leader Chuck Schumer, though further talks among staffers will be needed.

Biden-Manchin Meeting Makes ‘Progress’ in Bid to Break Deadlock
© Bloomberg Record Cash Pours Into $4 Billion Fund In Infrastructure Bet

Most Read from Bloomberg

  • Why Americans and Britons Are Rushing to Buy Idyllic Homes in Italy
  • Cities’ Answer to Sprawl? Go Wild.
  • One of California’s Wealthiest Counties Could Run Out of Water Next Summer
  • Hamburg Is at the Heart of Germany’s Growing Dilemma Over China
  • The Top Money Maker at Deutsche Bank Reaps Billions From Singapore

The rare Sunday meeting, held over breakfast at the president’s home in Delaware, was the latest step in Biden’s push to secure a framework agreement among Democrats on a package ranging as high as $2 trillion. A White House statement gave no indication of specific areas of progress.

“They continued to make progress, will have their staffs work on follow-ups from the meeting, and agreed to stay in close touch with each other and the wide range of members who have worked hard on these negotiations,” according to the statement early Sunday evening.

Democrats have voiced hope that an agreement in principle on the bill will allow the House to vote this week on a separate $550 billion physical infrastructure bill that has been held up by progressives wanting a deal on the larger bill. 

House Speaker Nancy Pelosi said a framework for the legislation is close, with the White House and leaders trying to hammer out final matters such as taxes and which components of a Medicare expansion to include.

“We have 90% of the bill agreed to and written, we just have some of the last decisions to be made,” Pelosi said on CNN’s “State of the Union” on Sunday.

Without congressional action, highway funding runs out Oct. 31, though Congress could pass another short-term extension as it did in September.

The White House and Manchin have differed on the terms of the top-line spending level for the bill, which creates and expands programs aimed at helping women, minorities, children and the elderly. 

Manchin, who represents West Virginia, has talked about a $1.5 trillion spending level while Biden has recently advocated for something in the range of $2 trillion. The original House-passed framework totaled $3.5 trillion. 

There’s also a question of whether the bill will include an expansion of Medicare for dental, vision and hearing benefits, as well as whether a plan for paid family leave will be scaled down or left out of the package.

The types of tax increases to be used to pay for the new spending are also in flux, with a billionaires’ tax gaining momentum and corporate tax rate increases fading.

Pelosi said the White House and Democratic congressional leaders still want to include four weeks of paid family leave, down from the 12 weeks initially sought.

“That’s our hope,” she said. “That’s what we’re fighting for.”

She said they also they want to include an expansion of Medicare to provide vision, hearing and dental coverage for seniors. 

But “dental is very expensive” and may take five or six years to implement, Pelosi said. That benefit is still under discussion, with Senate Budget Chair Bernie Sanders trying to find a way to keep the dental provision alive, she said.

‘Billionaires’ Tax’

On taxes, Pelosi indicated that hikes in the top individual and corporate tax rates are off the table, given opposition from moderate Democratic Senator Kyrsten Sinema of Arizona. She said a “billionaire’s tax” on unrealized capital gains of the ultrawealthy is under discussion, although it will only raise about $200 billion to $250 billion. 

Other methods of raising far more revenue, such as increased Internal Revenue Service enforcement and an “overseas harmonization” of taxes, also will be needed to offset the economic package.

“The billionaires tax has an appeal, but it doesn’t include that much money,” she said. Other ways to raise revenue, including a corporate minimum “book tax” that requires companies that use lots of credits and deductions to pay a base level to the IRS, also are being considered.

In Delaware, Biden’s meeting today with Manchin is pivotal. Sealing a deal with the West Virginia senator could allow Biden to pivot to Sinema as the final Senate Democratic holdout. Her office didn’t respond to questions about whether she has any planned talks set with Biden or Democratic congressional leaders.

(Updates with White House statement in first three paragraphs.)

Most Read from Bloomberg Businessweek

  • Colombia’s Rain Shaman Got Paid to Stop the Storms, Until He Couldn’t
  • How Donald Trump, Elon Musk, and Gwyneth Paltrow Short-Circuit Your Ability to Think Rationally
  • What My Brain Scan Revealed About the Science of Persuasion

©2021 Bloomberg L.P.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Baltimore Ravens at Pittsburgh Steelers: Live stream and TV schedule, betting odds, how to watch

In what will be their first of at least two matchups this season, the Baltimore Ravens and Pittsburgh Steelers are two teams headed in opposite directions. Baltimore (8-3) has the ... Read more »

The #1 Best Drink for a Flat Belly

A drink that single-handedly melts away belly fat doesn’t exist. Sure, you may be able to find a temporary cleanse, but these can have negative side effects and definitely won’t ... Read more »

How the murder of a Swedish rapper shocked a nation and put police on the back foot

Photograph: Henrik Montgomery/AP They began heading for the shopping mall exit when they saw the police. One of the four gang members, a local rapper called Lelo whose music videos ... Read more »

Researchers find way to control immunosuppressant drug level in patients having transplants

© Provided by The Financial Express Nephrologists now can predict the starting dose using the genetic profile of the patient. (Representative Image) Immunosuppressant drugs are prescribed to kidney, heart or ... Read more »

‘BJP will win Raj polls with two-thirds majority': Amit Shah at Gehlot turf

© Provided by Hindustan Times Union home affairs minister Amit Shah arrives at the airport in Jaipur on Sunday.  (HT photo) Union home affair minister Amit Shah on Sunday exuded ... Read more »

Iran must begin to pay a price for its violations, says Israel's PM Naftali Bennett

© Provided by WION With Iran’s nuclear talks back in the spotlight, Israeli Prime Minister Naftali Bennett has asked world powers to take a hard line in negotiations. He said ... Read more »

Nora Aunor partylist, disqualified ng COMELEC?

© Provided by PEP.ph GORGY RULA Hindi pa rin sumagot ang kampo ng original Superstar Nora Aunor kaugnay sa lumabas na balita nung Sabado, December 3, na ang partylist nitong ... Read more »

Saudis Raise Oil Prices for Asia, U.S. Despite Omicron's Spread

1/4Saudis Raise Oil Prices for Asia, U.S. Despite Omicron’s Spread2/4Saudis Raise Oil Prices for Asia, U.S. Despite Omicron’s Spread3/4Saudis Raise Oil Prices for Asia, U.S. Despite Omicron’s SpreadYahoo News is ... Read more »

Too Late To Stop Spread Of Omicron In The UK, Says Top Scientist

(Photo: SOPA Images via Getty Images) It is “too late” to effectively halt the spread of the Omicron variant in the UK, a government science adviser has warned. On Saturday, ... Read more »

YMCA hosts mock trial in Decatur

Dec. 5—On Saturday morning, a pin drop could be heard as Judge Alan Clara read the guilty verdict to a shocked and distressed crowd in a Decatur courtroom as the ... Read more »

Senegal registers first case of coronavirus omicron variant

DAKAR, Senegal (AP) — Senegal has recorded its first case of the omicron variant, becoming the third West African nation to detect the new coronavirus variant after Nigeria and Ghana. ... Read more »

Österreich: Lawine reißt mehrere Menschen mit – drei Tote

Bei einer Skitour im Salzburger Lungau ist eine Gruppe junger Menschen von einer Lawine überrascht worden. Drei von ihnen starben. Ein Vorfall in der Steiermark ging erst mal glimpflicher aus. ... Read more »

Friends of Minn. man who tested positive for Omicron after NYC trip also catch virus

The fully vaccinated man attended an anime convention in Manhattan from Nov. 19 to Nov. 21, just weeks after getting his COVID-19 booster shot. Scott Olson/Getty Images More than a ... Read more »

Purefoods shuts down Meralco to claim PBA 3x3 Leg 4 title

Photo: PBA Images The Purefoods TJ Titans are the latest 3×3 champions after shutting down Meralco Bolts 3×3, 21-16, in the Finals of the fourth leg of the PBA 3×3 ... Read more »

Everything we know about Ethan Crumbley's parents, who have been arrested and charged with manslaughter

The parents of the Oxford high school shooting suspect Ethan Crumbley were arrested in the early hours of Saturday morning in an industrial warehouse in Detroit, hours after a manhunt ... Read more »

Indonesia's Mount Semeru: At least 14 dead after volcano erupts

At least 14 people are dead and hundreds are displaced after Mount Semeru, a volcano in Indonesia’s East Java province, erupted on Saturday, authorities said. © BNPB The National Agency ... Read more »

Trump double negative: Twitter sees proof positive of no electoral fraud

The double negative, a common grammatical elephant trap, claimed a high-profile victim on Saturday night. Donald Trump. © Provided by The Guardian Photograph: Patrick Semansky/AP Related: Trump social media company ... Read more »

5 Actors Who Got Replaced In Sequels/Spin-Offs Of Bollywood Films

© Provided by MensXP In Bollywood, sequels, remakes, and spin-offs are quite common these days. If a movie or character gets massive success, the makers often come up with spin-offs ... Read more »

Valimai Mother Song Out: Ajith Kumar's second single by Sid Sriram is an emotional tribute to motherhood

© Provided by Pinkvilla The much anticipated second single from Ajith Kumar‘s starrer Mother song from his upcoming film Valimai has been released. The next song from Valimai is an ... Read more »

Ralf Rangnick sends message to Man Utd fans in programme notes ahead of Crystal Palace clash

Ralf Rangnick has told Manchester United‘s supporters he is at the club to further their current squad, insisting it has been an “average season”. The German will take charge of ... Read more »

Hamilton boxer lifts welterweight title as teenager earns runner-up prize

Two local Hamilton boxers gained recognition at the Western District Boxing championships last Saturday night. 21-year-old Lewis Kerr, from Stonehouse, won the welterweight title at the high-profile event at the ... Read more »

Fresh setback for Preston North End player revealed

© Provided by Football League World Matthew Olosunde Matthew Olosunde made his long-awaited Preston North End debut yesterday – but it may end up being a while before Lilywhites fans ... Read more »

Common pens heartfelt birthday note for Tiffany Haddish days after breakup

© Provided by WION Breakup or patch up? Tiffany Haddish and Lonnie Rashid Lynn, professionally known as Common, have broken up on good terms.  However looking at Common’s birthday wish ... Read more »

Dulha Vicky Kaushal lends his car to Katrina Kaif's mother and sister. Watch

Vicky Kaushal lent his car to Katrina Kaif ‘s mom and sister for their daily use. As Vicky Kaushal and Katrina Kaif’s wedding is just a few days away, family ... Read more »

PHOTOS: Akshay Kumar opts for an all black casual attire as he gets clicked at airport

© Provided by Pinkvilla Akshay Kumar is one of the busiest actors in Bollywood currently. He has been shooting for the films back to back and trying to complete them ... Read more »

Arjun Kapoor didn't miss his workout in Maldives, thanks to GF Malaika Arora! - Watch

© Provided by Zee News New Delhi: Lovebirds Arjun Kapoor and Malaika Arora are currently holidaying in the Maldives. The actor has called his girlfriend a “taskmaster” as she made ... Read more »

Stephen Kenny still has to prove himself after ‘wholly unacceptable' results, says Delaney

© Provided by Extra.ie Damien Delaney believes there is still work for Ireland manager Stephen Kenny to do before he is handed a new long-term contract by the FAI. While ... Read more »

BBC Breakfast guest speaking on power cuts plunged into darkness in TV blooper

© Provided by Extra.ie A BBC Breakfast guest went viral on Thursday morning due to an ironic power cut in what’s destined to become a classic TV blooper. Jim Cardwell, ... Read more »

Manchester United vs Crystal Palace confirmed line-ups: Team news ahead of Premier League fixture today

© PA Wire Luke Shaw went off during Manchester United’s loss to Manchester City – PA Wire Manchester United interim manager Ralf Rangnick will make his first appearance on the ... Read more »

PRN Sarawak: SOP ‘tak masuk akal', kata pemimpin DAP

© Provided by Free Malaysia Today Peraturan ditetapkan Suruhanjaya Pilihan Raya termasuk mengehadkan ceramah untuk hanya dua jam. PETALING JAYA: Ahli Parlimen DAP, Charles Santiago mengkritik SOP yang ditetapkan untuk ... Read more »

Users of class A drugs in UK face losing passport, say reports of proposals

Photograph: Dumitru Gornet/Alamy Users of class A drugs in the UK would face losing their passports or driving licences under proposals reportedly set to be unveiled this week. Boris Johnson ... Read more »

Storm Barra: UK braces for more torrential rain and 70mph winds days after Storm Arwen struck

Armed forces personnel conduct welfare checks amid concerns for elderly residents left in the dark by Storm Arwen – Peter Summers/Getty Images Britain is set to be battered by Storm ... Read more »

Kate Garraway says Derek Draper is in a ‘terrible state' during Piers Morgan's Life Stories

© PA Kate Garraway with her husband Derek Draper and their two children Darcey and Bill in 2019.jpg Kate Garraway sadly says her husband Derek Draper is in a “terrible ... Read more »

Portuguese parliament dissolved ahead of Jan 30 election

© Reuters/PEDRO NUNES FILE PHOTO: Parliament members vote on the 2022 state budget draft in first reading at the Portuguese Parliament in Lisbon LISBON (Reuters) – Portuguese President Marcelo Rebelo ... Read more »

Coronavirus: 5,156 new cases confirmed in Ireland

© Sasko Lazarov File image of deputy Chief Medical Officer Dr Ronan Glynn. PUBLIC HEALTH OFFICIALS have confirmed Coronavirus: 5,156 new cases confirmed in Ireland new cases of Covid-19 in ... Read more »

Be prepared for farmers-type agitation for restoration of Article 370: Farooq

© Provided by The Statesman Be prepared for farmers-type agitation for restoration of Article 370: Farooq Sitting MP and National Conference (NC) President Farooq Abdullah on Sunday asked the party ... Read more »

FIR against gangster Suresh Pujari for extortion

© Provided by Hindustan Times The FIR was filed against the gangster after a hotelier lodged a complaint of extortion (HT FILE) Mumbai The Mumbai police have registered an extortion ... Read more »

Pakistan arrests 6 more people in Sialkot lynching; investigation to continue

© Provided by WION The Sri Lankan factory manager Priyantha Kumara who was beaten to death and set ablaze by local mob in Sialkot, Pakistan, was brutally tortured, the post-mortem report ... Read more »

Ralf Rangnick and Southwick: How Manchester United boss was shaped by non-league English club

When he retires, Ralf Rangnick will be able to look back on a legacy in football which saw him win trophies with Schalke, mould Hoffenheim and RB Leipzig in his ... Read more »

AAP MP Bhagwant Mann alleges BJP tried to lure him with money, cabinet rank

AAP MP Bhagwant Mann alleges BJP tried to lure him with money, cabinet rank Lok Sabha MP from Sangrur and President of Aam Aadmi Party in Punjab, Bhagwant Mann, on ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic