Manchin ‘Uncomfortable’ Over Rising Cost of Biden Legislative PlansEpoch Times, United States politics | The Epoch Times

Sen. Joe Manchin (D-W.V.), a crucial moderate Democrat, has expressed reservations over the mounting costs associated with implementing President Joe Biden’s legislative agenda. His comments come after Biden unveiled a $1.8 trillion plan to expand educational opportunities and child care for families, dubbed the American Family Plan. The plan is expected to be funded by an increase of the top individual tax rate from 37 percent to 39.6 percent for taxpayers in the top 1 percent of income. The White House is also proposing to raise the capital gains tax rate to 39.6 percent for households making more than $1 million. The latest proposal follows Biden’s $2.25 trillion infrastructure plan that is still being debated by Congress and a $1.9 trillion pandemic relief plan that has since been enacted. The three packages expand social welfare programs and would total about $6 trillion. “It’s a lot of money, a lot of money,” Manchin, who …Read More

Leave a Reply