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Manchin closes door on Biden $ 1.75 trillion investment bill

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© Reuters. FILE PHOTO: U.S. Senator Joe Manchin (D-WV) Attends a Democratic Politics Luncheon in Washington, D.C., on December 16, 2021, in Washington, DC. REUTERS / Elizabeth Frantz

Jan Wolfe and Trevor Hunnicutt

WASHINGTON (Reuters) – U.S. Democrat Joe Manchin, a moderate Democrat who hopes to get a $ 1.75 trillion internal investment bill from President Joe Biden, said he would not approve the package on Sunday.

“I can’t vote to continue with this legislation,” Manchin said in an interview with Fox News Sunday, citing inflation concerns. “I can’t. I’ve tried everything possible as a human being.”

A White House spokesman did not immediately respond to a request for comment.

Manchin has played a key role in the White House’s “Build Better” plan, which aims to strengthen the social security network and fight climate change, and which is the basis of Biden’s legislative agenda.

In a statement released after the Fox News Sunday interview, Manchin said that increasing the U.S. debt burden would “drastically hinder” the country’s ability to respond to the coronavirus pandemic and geopolitical threats.

“My fellow Democrats in Washington are determined to reshape our society in a way that makes our country even more vulnerable to the threats we face,” he said in a statement. “I can’t take that risk with a huge debt of more than $ 29 trillion and a huge debt of more than $ 29 trillion for all Americans who work hard and are really bad.

Manchin’s support is crucial in a chamber with the lowest margin of control for Democrats and when Republicans oppose the bill.

Biden said that after speaking with Manchin last week, the West Virginia senator reiterated his “support for Better Building Financing” at the level of the framework plan I announced in September. The Democratic president vowed to end the deal in the coming weeks.

Although talks with Manchin have gone awry, Biden’s aides have expressed confidence that they will reach an agreement in the last few days.

Many Democrats approve the bill, which is essential for the party’s chances of retaining control of Congress in next year’s election.

The package would raise taxes on rich people and corporations to pay for a variety of programs to combat climate change, promote health care, and provide free child care.

Biden argues that reducing these costs is essential at a time when inflation is rising and the economy is recovering from the effects of the coronavirus pandemic. Republicans say the proposed legislation would boost inflation and hurt the economy.

Annual U.S. inflation is more than double the Federal Reserve’s 2% target.

TWO INVOICES

Senator Bernie Sanders, a Social Democrat who agrees with Democrats, said in a CNN interview on Sunday that he believes a vote on the proposed legislation should be held, despite his opposition to Manchin.

“I hope that as soon as possible we will bring a strong bill to the Senate table and that Mr. Manchin will explain to the people of West Virginia why he has no desire to pursue strong special interests.” said Sanders.

Biden signed a $ 1 billion infrastructure bill last month, allocating money to state and local governments to repair bridges and roads and expand broadband Internet access.

Liberal Democrats in Congress called for the Back Back Better legislation to be combined with the infrastructure bill to ensure approval of the former. U.S. House Speaker Nancy Pelosi, a Democrat, led an effort to split the two bills in September.

The Build Back Better bill has already passed the House, which is controlled by Democrats.

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