Joe Manchin-Chuck Schumer Reconciliation Agreement with $1.5 Trillion Cap

Joe Manchin
Chuck Schumer

“Distrust is running high. A lot of Hill Democrats were stunned by the unusual written agreement that Senate Majority Leader CHUCK SCHUMER and [Senator Joe] Manchin signed in late July laying out the West Virginian’s terms for a reconciliation deal. Some members felt blindsided — not just rank-and-file backbenchers, but senior Dems who had no idea that Manchin told Schumer two months ago that his top-line number was $1.5 trillion. Others were just … perplexed that a leader and senator would sign such a document.” POLITICO 10/1/21

As the excitement including a roller coaster ride in the financial markets with September ending with the worst month performances for equities in over a year, U.S. Senator Joe Manchin (D, WV) delivered a classic, unscripted “perfect storm” with the revelation of the signed agreement between him and Senate Majority Leader Chuck Schumer (D, NY), signed on July 28, 2021, on Manchin’s conditions for a Democrat-only Senate “human infrastructure” bill he’d be willing to vote for in the Senate to avoid a Republican filibuster through reconciliation.

The former twice-elected governor of the Mountaineer State had laid out his framework in writing which included in this POLITICO compiled list with my emphasis added:

  • A $1.5 trillion top line for the reconciliation package.
  • A corporate rate of 25%, a top income tax rate of 39.6% and a capital gains tax rate of 28%.
  • For any revenue from the bill “exceeding” $1.5 trillion to be spent on deficit reduction.
  • Means-testing so that new federal programs are aimed toward low-income Americans.
  • Jurisdiction, as chair of the Senate Energy Committee, over any clean energy standards (despite being from a heavily coal-reliant state).
  • “Innovation not elimination” of energy sources (read: continued support for coal) and support for technology capturing carbon emissions from power plants to store underground (which is good for coal).
  • Assurances that fossil fuel subsidies won’t be repealed if new credits are issued for renewable power, and that any electric vehicle subsidies be extended to also include hydrogen-powered vehicles (which is good for coal).
  • For debate on the package not to start until Oct. 1.

One must remember, the list, signed by both Manchin and Schumer was dated July 28, but became known to the public, and most House and Senate Democrats, on Thursday morning, the 30th of September, just over two months to the day from its signing. To be fair and clear, Schumer added to his signature, he “will try to dissuade Joe on many of these.”

Source: Zach C. Cohen, National Journal tweet

Manchin knew exactly what he was doing when he did it, and in spite of criticisms from the Leftists in the House who held-up the Senate-approved “Bipartisan Infrastructure” (BIF) bill, Manchin didn’t hold back at an impromptu, outdoor news conference late Thursday morning after his agreement with Schumer was made public:

“I wasn’t trying to be a fly in the ointment at all. I’ve never been.

“I’ve never been a liberal in any way, shape or … form.

“There’s no one who’s ever thought I was. I’ve been governor, I’ve been secretary of state, I’ve been in the state legislature, I’ve been a U.S. senator — and I have voted pretty consistently all my whole life.

“I don’t fault anyone who believes that they’re much more progressive and much more liberal. God bless them! … I guess for them to get theirs, elect more liberals.”

Senator Joe Manchin, 09/30/21 outdoor press conference

Highlighting the “means-testing” bulletpoint from above, Manchin expanded at the news conference:

“I cannot accept our economy, or basically our society, moving towards an entitlement mentality.”

Sen. Joe Manchin (D-WV) says his hesitancy regarding reconciliation is because he is prioritizing “means testing.”

Manchin made clear he believes people who need help get it, but those who don’t should not be “rewarded” with entitlements they don’t need.

Later Thursday, as the House was still scrambling to pass the Senate-approved BIF before the end of the fiscal year at Midnight, Manchin was at his house boat on the Potomac where he lives while in Washington. Thursday late afternoon, he was met with a flotilla of Leftist protestors at his doorstep, er boatside:

Source CPD Action tweeted pic

To Manchin’s credit, he came out on deck of the Almost Heaven house boat and talked to, and listened, to the protestors, per the video from Center for Popular Democracy Action:

Video credit for the tweet above: Thet-Su Tin w/ Freedom, Justice, Equality for Myanmar

In a tweet from Thursday, U.S. Senator Rick Scott (R, FL) joked about Manchin plagiarizing him, but ended with something all Americans should be saying, and thanking God for inspiring Manchin to do:

“…always appreciate someone else calling for fiscal sanity in this building!”

Senator Rick Scott (R, FL) tweet from Thursday midmorning

Going to be a very interesting next month or two to see if the Democrats will pull off any infrastructure bill(s), prior to the December 3rd expiration of the Continuing Resolution passed Thursday, but the looming national debt default by October 18, short of raising the debt ceiling, is the next critical path on the fall timeline in D.C.


Comments

Joe Manchin-Chuck Schumer Reconciliation Agreement with $1.5 Trillion Cap — 36 Comments

  1. Manchin is to the Democrats what Charlie Watts was to the Rolling Stones.

    Showing every rock band needs one member, who looks bored and vaguely disgusted by the antics of the other ones.

  2. Anyone else on this board own a yacht?

    How does a guy making 175k a year afford that big boat.

    Asking for a friend.

    Nevermind, I know the answer.

    Insider trading which is legal in DC and the lobbyists and bills like a 1.5T dollar boondoggle.

    In the meantime, let’s enjoy a little song we grew up with > https://t.co/MZpgJd4ZDX?amp=1

  3. Hey JT – I’ll start by saying I cannot stand Joe Manchin.

    But do you have no knowledge of where Manchin’s wealth came from?

    Or just more unfounded allegations from you?

  4. Joe Manchin, who is holding up crucial climate change initiatives in Biden’s reconciliation bill, collects $500,000 a year from coal stocks dividends.

    Sen. Joe Manchin earned $500,000 in 2020 from his son’s energy firm, which Manchin founded in 1998.

    He’s also the chair of the Senate Energy and Natural Resources Committee, which regulates the industry.

    He’s received thousands from Exxon lobbyists and Republican oil and gas titans.

  5. Educate me Shake.

    No time.

    He’s just another grifter that’s been in DC too long.

    Can’t wait for the link.

    Is he like John Kerry?

    Did he marry into the Heinz family fortune?

    Wear your mask and get your vax.

  6. It’s a houseboat.

    Manchin paid $220k for it, and some say he got a sweetheart deal.

    He supposedly has it insured for $700k.

    He lives on the boat when he’s in DC.

    A lot of Senators have far pricier DC digs.

    Housing costs are insane in that area.

  7. TY Paul Revere.

    I knew he wasn’t smart enough to earn his money the capitalist way.

    Lawyers, venture capitalists and other slime playing the system to fleece us of our tax dollars.

  8. I am very familiar with housing costs in the DC area, having lived there at one time.

    It may very well be that having a houseboat for your digs in DC is not out of line, but it does make you look entitled to the folks back home who are living in poverty or something close to it.

    Bad optics

  9. **I knew he wasn’t smart enough to earn his money the capitalist way. **

    No idea what this is supposed to mean.

    Manchin started a company in 1988 and now owns between $1m-$5m in stock of that company he founded.

    His son now runs the company.

    That seems to pretty much meet the definition of the “capitalist way.”

  10. LOL shake.

    Please elaborate.

    I founded and owned an LLC and was a shareholder and managing partner.

    I would be very happy to funnel money through it to increase it’s value when I cashed out just like Joe.

    Hopefully Joe filed an 83b with articles of incorporation naming him a partner so his capital gains taxes are limited to 15%.

    Let me guess.

    Delaware?

    Where did his initial capital investment come from or was it his intellectual capital that bought him that boat and value in the company?

    I’m really interested in your detailed knowledge on creating and running a business and the details behind Mr. Manchin’s business.

    Maybe John Lopez can help you out with that.

  11. The people of West Virginia were OK with a Rockefeller representing them in the Senate for 30 years, so I really doubt if Joe’s houseboat raises that many eyebrows back home.

  12. Cool – I too founded and own an LLC.

    It’s quite successful.

    Thanks for asking though.

    But, just so we’re all counting, JT made an assertion that Manchin made his money from insider training.

    He’s wrong.

    And for sure has zero evidence of insider training.

    As for Manchin’s initial investment?

    I don’t know.

    And unlike you I won’t make things up.

    I do know that his initial investment didn’t come from insider training as a member of Congress though.

    And it’s incorporated in West Virginia.

    And other things you want to make up?

  13. But, congrats on finally figuring out who John is.

    Don’t need his help here though.

  14. You won’t be successful at anything because you’re fake and gay.

  15. ……I’ve also learned over the years, I’m the only person on the Internet that can’t Bench Press 500 pds and who’s car doesn’t do 140 mph.

  16. Sorry, correcting, but are you referring to me – fake and gay?

    Lots of you seem obsessed with me being gay, but, sorry to disappoint you all, I’m not gay.

    No idea what “fake” means in this context, but you do you.

    DJ – I too cannot bench 500 pounds, and my minivan definitely doesn’t go 140mph.

  17. LOL D J. My vette tops out near 200 but I’m not stupid enough to test those limits on the highway. As far as bench pressing, I have been doing 12 ounce curls my whole life. You would think I would have Popeye forearms by now.

    Shake reading your posts reminds me of corporate America when I was in it. Nothing but circular mumbo jumbo. Why do you always bring up John Lopez in your posts? Some kind of man crush going on there that you want to tell us and John about?

  18. JT – dude, read above, and see who first brought up Lopez? LOL

  19. A good article on Manchin in a recent issue of the Washington Examiner. His State is deeply red but has been losing population and U.S. Representatives. Manchin might be an unusual breed. A kind of reasonable and rational Democrat.

  20. 2021 capitalist cope: venture capitalism isn’t real capitalism

    Dj I drove nearly 140 mph in beater car and deadlifted almost 500 with little training u just gotta be realistic about your goals good luck brother if you’re older don’t expect as much but you can still set a goal like “i will be able to do 10 pushups” you can do it.i believe in u, peace.

    if u dont believe me look no further than authors of this blog:

    John Lopez rids a bike like 30 miles in a day and Cal Skinner is capable of eating at least two whole hamburgers in under 15 minutes.

    u have to set goals and work for them.

    We all can make goals and progress.

    I lost 12 kilogram since “COVID” started…

  21. I will now begin construction on a underground laboratory, which I will staff with ex-Soviet scientists, whose only task will be to transform DJ into Ivan Drago so that I finally become competitive on Cal’s Blog.

    Bridgette Nielsen Rocky IV look-alikes, please send risqué but tasteful photo’s with resume.

  22. “deadlifted almost 500”.

    Deadlifts are simple if you have proper back support.

    What does almost mean?

    You do or not do, almost is meaningless

  23. JT is right. Because Science is a pitiable little troll, still living with Mommy and Daddy and STILL on a their allowance, i cant take him seriously, or his numerous other Sibyl-like pathological personalities.

  24. Everybody after the troll shake’s post at 1:33 cracked me up. Thanks for the laughs. And Paul Revere, at my age those 16 ouncers are not conducive to my existence.

    LOL

  25. As Cal says, thanks for the update community editor.

    Chalk it up to fat finger issues troll.

  26. I’ll resist name calling even though there are a few nouns that pertain to you Monk and your sidekick Shake.

    Now go back to your bong in mommy’s basement will you.

    Your intellect captivates me.

    I look forward to your memoir – “My Life as a Troll on Cal Skinner’s Blog”.

    Maybe Cal (or even D J and his ambiguous posts) can write the foreword when you publish it.

    He is obviously capable.

    And when Shake writes his book, he can have John write his foreword.

    There is a true affection with Shake towards John.

    I hope there are pictures.

    I don’t read so good so keep me posted when the first drafts come out.

    Thanks

  27. From above about Joe Manchin on his house boat on the Potomac:

    “Thursday late afternoon, he was met with a flotilla of Leftist protestors at his doorstep, er boatside”

    Scumbag Democrat supporters stoop very low with their tactics.

    Potomac incident was nothing compared to a-hole Democrat supporters harassing AZ Senator Sinema.

    Two people, one a woman, another doing recording apparently on a smart phone followed Sinema into a woman’s washroom and recorded her going into a stall and closing the door.

  28. The doofus, plagiarist, buffoon, senile Biden laughed about the incident of Democrat supporters harassing Senator Sinema in a woman’s washroom. He said:

    “I don’t think they’re appropriate tactics but it happens to everybody.

    The only people it doesn’t happen to are people who have Secret Service standing around. So, it’s part of the process.”

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