Tuesday, December 21, 2021

Why Did Manchin Kill The Build Back Better Bill?

This cartoon is by Joe Thibodeau.

On Sunday, Joe Manchin bragged on Fox News that he would vote against the Build Back Better bill. That effectively kills the bill, because it needed the votes of all 50 Democrats and Independents to pass. Why did he do that? Is it because he's rich -- he has his and doesn't care about anyone else -- especially the poor, workers, and middle class who are struggling to keep their heads above water in this inflationary recession? That's my opinion.

Here's what former Labor Secretary Robert Reich thinks at robertreich.sunstack.com:

I can’t resist opining on West Virginia senator Joe Manchin’s motive for announcing yesterday he won’t support the “Build Back Better” social and environmental package. He delivered the deathblow on Fox News Sunday (after refusing to take Joe Biden’s phone call presumably asking him not to make the announcement).

The reasons Manchin gave are absurd on their face. He must know that.

He said he’s worried about inflation and the national debt. But Build Back Better would be paid for with tax increases on big corporations and the wealthy — so it won’t have any bearing on inflation or the debt. More to the point, its sticker price of $1.75 trillion covers 10 years, during which the Congressional Budget Office projects $288 trillion worth of economic output. So a Build Back Better plan of $1.75 trillion or would amount to roughly 0.6% of gross domestic product — or slightly more than the 0.5% of GDP Americans spent last year on tobacco. And that doesn’t cover all the benefits to the economy of investing in K-12 education, childcare, and so on. 

Manchin also claimed he’s worried about the impact of the latest COVID surge on the economy. But if COVID slows the economy, that’s even more justification for federal spending that strengthens social safety nets. And even more reason to support a program that could possibly stimulate the economy in the short run. 

He said he can’t face his constituents in West Virginia without renouncing “Build Back Better.”But on a per-person basis, West Virginians would be among the biggest beneficiaries of the legislation in all America. One out of four West Virginians over 65 have no natural teeth, for example — the highest rate in the nation. Biden’s original bill provided dental benefits under Medicare.

So what’s really motivating Manchin? Four possibilities:

West Virginia is a coal state, and Manchin doesn’t want to do anything that might dampen coal production (the bill has a number of environmental measures). Possibly, but Manchin must know there’s no long-term future in mining coal regardless of what happens to this legislation. There are far fewer coal jobs left in West Virginia than there are jobs in health care. The legislation would, however, help West Virginians transition from coal to new and better jobs. And help them survive in the meantime.

He’s self-dealing. He owns stock valued at between $1 million and $5 million in Enersystems, a coal brokerage firm he founded in 1988? Last year he made half a million dollars in Enersystems dividends (roughly three times the $174,000 salary he made last year as a senator).

He’s takes bribes. He collects more campaign money from coal, oil, and gas companies than any other senator. (In June, Exxon lobbyist Keith McCoy told the Greenpeace investigative unit that Manchin participated in weekly meetings with company operatives.)

He loves the power and attention. Who ever heard of Joe Manchin before the Biden administration? A minor-league Democratic senator from a small, poor state suddenly has the national spotlight and has become the biggest spoiler in the Democratic Party.

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