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Manu Raju

@mkraju

16 Dec

Spoke with Manchin tonight about why and Biden are at odds over BBB
- Manchin said bill must not exceed $1.75T
- Said that he's objecting to a one-year extension of child tax credit because he believes it hides true cost since will likely be extended. Said it should be 10 years

- But extending it for the next decade would blow up the price tag and would require wholesale changes of a bill. He said that if it increases the price tag and they want to keep the CTC, Democrats should drop other programs in order to make it all fit under $1.75 trillion.

"We have $1.75 to work within. And the only thing I’m saying is whatever – I’m not in charge so whatever they have to choose, they have to choose. It’s not me," he said.

"I’m saying 10 for 10. If you're gonna do something, let’s do it, let’s commit to it. I’m committed."

Read 6 tweets

Manu Raju

@mkraju

15 Dec

Talks between Manchin and Biden are NOT going well on Build Back Better, per source familiar with talks. A huge sticking point: the Child Tax Credit. Manchin wants it cut. Source says he wants to “zero it out.” They are “very far apart,” source says.

This kills any virtually any hope of getting the bill done by Christmas as Schumer had hoped. Biden and Manchin not close to a deal

Strong Democratic pushback to Manchin’s demands to cut CTC. “It’s not going to get zeroed out,” Sen. Sherrod Brown told me. “That’s non-negotiable.”

Sen. Elizabeth Warren said: “We need the child tax credit. It has cut childhood poverty in America by nearly half.”

Read 5 tweets

Manu Raju

@mkraju

13 Dec

In a big warning sign, Manchin said BBB shouldn’t rely on temporary spending that could become permanent. “I don’t think that’s a fair evaluation of saying we are going to spend X amount of dollars but then we are going to have to depend on coming back and finding more money"

Manchin: "And if that's in that 1.7T range, then we should be spending whatever in that range . ... Pre-K, childcare, in-home care, then it should be 10 years. It shouldn't just be one year here, three years here, five years there." (Doing that would force major rewrite of bill)

Manchin added: "That would be I think it would be very transparent for the public to see exactly what they'd be getting for what we’re spending for 10 years."

He also called last week's inflation report "alarming"

Read 4 tweets

Manu Raju

@mkraju

7 Dec

New — Language released to increase debt ceiling via a fast-track process and be approved by simple majority. McConnell briefing his leadership team on this new process bill — which would just be allowed this one time — and will brief conference at lunch.

This new bill, which has been negotiated by Schumer and McConnell, would allow the debt ceiling to be increased only up until Jan. 15 by a simple majority vote.

The new process would ensure the debt ceiling legislation cannot be amended and would be immediately considered by the Senate. Debate would be limited to 10 hours.

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Manu Raju

@mkraju

30 Nov

Schumer informed his leadership team that he and McConnell are still in talks over raising the debt limit and that the issue will likely be dealt with next week with the Dec. 15 deadline looming, according to multiple Democratic senators.

Republicans have proposed that Ds move through reconciliation process to raise debt limit on their own, something that would require them to specify the exact dollar amount that they would raise borrowing limit to. The process would also open them up to a marathon voting process

But to make the process less arduous, McConnell is proposing to expedite the reconciliation process, something that would take the consent of all 100 senators.

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Manu Raju

@mkraju

18 Nov

Lots of movement in the House. Rules Committee meets at 5:30pm to take up revised rule governing floor debate of Build Back Better bill. CBO finalizes scoring of each section of bill. Overall scoring not released, but moderates had demanded "fiscal information" before voting YES

Some discrepancies will have to be worked out. The judiciary provisions (including immigration) cost $115 billion, per CBO, but the budget resolution allows $107 to be spent. Those could fall by the wayside as well if they don't meet muster with the Senate parliamentarian

The so-called "privilege scrub" is also completed. So that means if the Democratic moderates are satisfied, vote will be tonight and bill likely pass the House. (Senate is a different story)

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