Senator Manchin also expressed concern about inflation however, a veritable parade of economists have said that BBB will not worsen inflationary pressures, and 17 Nobel Prize winners argued, “Because this agenda invests in long-term economic capacity and will enhance the ability of more Americans to participate productively in the economy, it will ease longer-term inflationary pressures.” Moreover, in the wake of Senator Manchin’s announcement, economists from Goldman Sachs and Moody’s Analytics downgraded their forecasts of US economic and employment growth over the next year, indicating that BBB would benefit the US economy. The even better news is that the climate provisions in the package are already fully paid for. The good news is that this objection can be overcome by revising BBB to only include policies that are fully paid for over the 10-year window. Senator Manchin has long expressed his concern that this short-term funding approach is a “gimmick” because, hypothetically, future congresses could extend the programs’ funding without paying for those extensions, thus adding to the debt (although as a member of the Senate, Manchin would have an influential voice and vote on such extensions). Many progressives favored the latter option, and won out in the previous BBB negotiations. Members of Congress were divided on this question. This left congressional Democrats with two options: remove a number of provisions entirely, or scale them back by funding many policies for a shorter timeframe than the usual 10-year window. Senator Manchin made clear that he would not vote in favor of a package more than half that size. Build Back Better's Structure and Economic ImpactsĬongressional Democrats initially proposed a BBB package that included $3.5 trillion in investments, with plans to pay for the whole bill so as not to add to the national debt. The reservations he expressed regarding clean energy spending are inaccurate. Manchin’s primary concerns do not apply to the climate provisions in the bill, and can be overcome through re-negotiating and restructuring. In his bombshell statement yesterday, Senator Joe Manchin listed several reasons why he purportedly cannot support the Build Back Better (BBB) budget reconciliation package. Why Senator Manchin Should Support Build Back Better Posted on 21 December 2021 by dana1981 Our mission is simple: debunk climate misinformation by presenting peer-reviewed science and explaining the techniques of science denial. This website gets skeptical about global warming "skepticism". Under the guise of climate "skepticism", the public is bombarded with misinformation that casts doubt on the reality of human-caused global warming. It is leading to large-scale climate change. Greta Thunberg)Įxplaining climate change science & rebutting global warming misinformation Honest Government Ad | Net Zero by 2050 (feat.2021 SkS Weekly Climate Change & Global Warming News Roundup #46.Do COP26 promises keep global warming below 2C?.Sea level rise: Uncertain Climate Future.Climate challenges mount for California agriculture.Skeptical Science New Research for Week #46, 2021.
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