The days of looming Democrat spending to the tune of $3.5 trillion are officially over.
Joe Biden was forced to concede, telling Democrat negotiators to drastically scale back his “build back better plan.” Reports have emerged that after meetings with leading Democrat moderates, Biden was forced to accept an offer no where near the $3.5 trillion he originally hoped for.
The White House has agreed to sign a $2 trillion government-overhaul package with at least $500 billion to tackle climate change and money for middle-class priorities — child tax credits, paid family leave, healthcare, and free pre-kindergarten.
And they expects negotiations to wrap up as soon as this week.
While $2 trillion on social spending is far too much, and could likely have the same effect as the original $3.5 trillion, any decrease in price will have a direct impact on the American taxpayer, who is essentially footing Biden’s bill.
After numerous meeting with moderates and progressives alike, Biden was forced to immensely reduce many of the programs stuck into his original package including:
- tuition-free community colleges
- a path to legal status for immigrants who are in the U.S. without documentation
- backbone clean energy plan with a reported $750 billion price tag
According to White House mouthpiece Jen Psaki, Biden felt “more confident” after the day of meetings despite moderate party members gutting many of his programs.
Apparently Biden’s social programs are all to be funded by tax hikes on corporations and the wealthiest individuals, those earning more than $400,000 a year. But analysts have warned this isn’t the case. Taxes across the board must increase to fund Biden’s wish list, even on Americans making less than $400,000 per year.
West Virginia Democrat Sen. Joe Manchin has been the lynchpin in Biden’s plan from day one. A moderate from coal-country, USA, Manchin has made his opposition to Biden’s Clean Energy Performance Plan clear.
The plan allows the government to impose penalties on electric utilities that fail to meet clean energy benchmarks and provide financial rewards to those that do — in line with Biden’s goal of achieving 80% “clean electricity” by 2030.
What a farce.
Other climate-change-fighting proposals being considered are a tax on carbon dioxide emissions from fossil fuels such as oil and coal or a methane emissions fee. Manchin has voiced his opposition to this as well.
A tax on fossil fuel companies will have a direct effect on the American people who rely on moderately-priced fuel to transport their goods and gas up their vehicles.
Biden’s insistence to crowbar climate change initiatives into his spending package is nothing other than a way to appease his globalist buddies in the United Nations, who are set to meet for a climate change summit in the coming weeks.
Biden also wants to ensure funding for health care programs, including new money for home- and community-based health care services, supporting a move away from very widespread nursing home care.
With Republicans fully opposed to Biden’s plans, the president needs all Democrats in the 50-50 split Senate for passage and can only spare a few votes in the House.
Time slipping, Congress has set an Oct. 31 deadline for passage.
Author: Sebastian Hayworth