.@Sen_JoeManchin, on WVMetroNews radio, again sounds the alarm on rising inflation, calling it a 7.5% tax hike on Americans; he tells the Fed to stop “pussyfooting around” and take some actions to bring it down.
.@Sen_JoeManchin says he’s still willing to use reconciliation to raise taxes on corporations and the wealthy, let Medicare negotiate drug prices, lift the Social Security payroll tax cap; says he’s fine with some spending, like climate. His priority: must bring down the debt.
As for which specific taxes he’s willing to raise, Manchin repeats much of what he said here: 25% corporate rate, close carried interest, 28% capital gains. More: nbcnews.com/politics/congr…
Addendum: There’s a Byrd rule problem with making changes to Social Security in reconciliation.
https://twitter.com/sahilkapur/status/1491812271026278402
On Democrats’ challenges with Manchin-backed taxes:
Raise the corporate rate? Can’t do that, Sinema is opposed. End carried interest? Sinema is an obstacle. 28% capital gains tax? Menendez is not a fan. Broad Medicare power to negotiate prices? Sinema and Menendez are resistant.
Raise the corporate rate? Can’t do that, Sinema is opposed. End carried interest? Sinema is an obstacle. 28% capital gains tax? Menendez is not a fan. Broad Medicare power to negotiate prices? Sinema and Menendez are resistant.
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