A senator says the government shouldn't spend more than $1 trillion. A senator votes for a law that adds hundreds of billions to the deficit.
There's only one problem, both of these are Sen. Joe Manchin of West Virginia. He has two opinions on the bipartisan infrastructure bill that Biden signed into law this week. Both can't be true.
McConnell voted for the infrastructure law, a return to his voting patterns from the Trump presidency, when he repeatedly voted for laws that increased the national deficit.
Manchin has succeeded in cutting a lot from the original price tag of $2 trillion. He's adamant that the plan must be paid for by a combination of tax hikes.
According to the Congressional Budget Office, the Build Back Better Act will add $367 billion to the government's deficit over the next decade. The package is set to add more than $150 billion to the deficit, even after taking in revenue from improved IRS enforcement. The infrastructure bill that Manchin and McConnell just voted for looks worse.
In August, the senator backed a plan that added to the deficit. The $1 trillion infrastructure plan was not fully paid for, but Manchin voted to pass it. He was part of the bipartisan package. The infrastructure plan will cost the US about $256 billion, according to the CBO.
Manchin supports a bill that adds nearly $100 billion more to the deficit than the one he's worried is too expensive.
The office of Manchin did not reply to the request for comment.
The price tag is something that people should be aware of.
The cost of the build back better plan strikes at a growing divide in the Democratic party. The moment is key to creating a more equitable economy. Centrists like Manchin are worried about the same things as the Republicans.
Progressives initially wanted to cover the costs with more aggressive taxation of billionaires and corporations. Members pointed to the package's popularity and President Joe Biden said he wanted to "go big" with his spending plans.
Manchin was against the tax proposals. The senator said he didn't like targeting different people with the billionaires' tax, and that the opposition ensured the package would be smaller than Biden's proposal.
The senator's inflation concerns are similar to those on the other side of the aisle. The Republicans argue that the plan would boost price growth beyond its already fast pace. In November, Manchin said that inflation is not "transitory" and that the DC can no longer ignore the economic pain Americans feel every day.
Concerns that build back better will make inflation worse are overstated. The package's funds would be doled out over 10 years, meaning it wouldn't contribute to a sudden burst of spending. The plan wouldn't have a material impact on inflation according to the ratings agencies.
Manchin hasn't said how the CBO score affects his support. The House's bill is expected to be adjusted by the Senate. The senator wants to strengthen taxes on the wealthy and reform climate change. Manchin wants to cut paid leave from the package. The bill's cost could be eliminated by doing so.
Manchin is willing to add hundreds of billions of dollars to the deficit.
