W.Va. (WTRF) – Democrat lawmakers in Washington continue to try and push through President Biden’s “Build Back Better” agenda, with a bipartisan infrastructure bill and a reconciliation bill.
But Democrat Senator Joe Manchin of West Virginia still has big concerns over the 1.75-TRILLION dollar price tag.
Manchin has concerns about transparency of the actual price, which he says will actually be higher than 1.75 trillion when the cost over 10 years is factored in. He wishes that his colleagues would, as he puts it, stop playing games with the widely support infrastructure bill to pass a larger bill funding social and climate change programs that has less support.
“So I said, can’t we just wait and see if inflation is transitory or not, if COVID is going in these cycles that go up and down that make it unstable for the work force and for the economy? And then the big thing that we haven’t taken into consideration is geopolitical fallout from Afghanistan. And we’ve been warned that something will happen, eventually. Where that comes from, to what extent, I don’t know, but it’s going to be costly.”Sen. Joe Manchin, D-WV
Senator Manchin is also worried that the Federal Reserve continues to buy up over 100 billion dollars of our national debt and bonds each month, which he says allows the US to keep their interests rates artificially low.
He fears that could lead to high interest rates down the line.