Senate Majority Leader Chuck Schumer previously said that he hopes the Build Back Better bill will be passed by Christmas Day. However, this won't likely be the case.
According to reports, Democrats still couldn't agree on several key provisions as part of the bill that Joe Biden proposed months ago. So, it's possible for them to vote on it sometime next year.
Democrats still hoping to pass Build Back Better bill this month
Sen. Ron Wyden told reporters this week that Democrats are exhausting all possible options to be able to pass an extension of the monthly child tax credit payments.
The payments will be affected if the Build Back Better bill doesn't become law by Dec. 31.
Sen. Joe Manchin claims he supports child tax credit
Sen. Joe Manchin continues to be one of the biggest roadblocks to passing the Build Back Better bill. He previously expressed his desire to challenge Biden's funding level that is part of the bill.
However, his fellow Democrat Sen. Michael Bennet said that he doesn't think Manchin will push through with his threats.
When asked to comment on claims that he's against the child tax credit, Manchin said that this isn't true. When pressed to comment on whether he is for the extension, the senator stayed mum.
Nancy Pelosi confident Build Back Better bill will become law
House Speaker Nancy Pelosi also released a statement on Wednesday saying that she remains hopeful that votes will be cast before the year ends.
"I'm not going to have a postmortem on something that hasn't died. I think that we will have legislation and it will pass. I hope the sooner the better," she said via the Huffington Post.
Democrats focused on voting rights
According to CNBC, Democrats are waiting to make their next move. Since they still can't reach an agreement over the Build Back Better bill, they are now focusing on other priorities first.
Biden and Democratic senators are thinking of possible ways to bypass the filibuster and pass a voting-rights bill in the coming weeks.
According to the POTUS, there's nothing more important than voting rights that's why they want to prioritize the matter.
How Build Back Better bill can affect inflation
Political analysts also weighed in on the Build Back Better bill and the Democrats' difficulty in voting to turn it into a law. They said that this would have an impact on the inflation rates that Americans are already struggling with right now.
The analysis of the Committee for a Responsible Federal Budget said that the bill would likely modestly boost near-term inflation to what it would be otherwise.
Alex Muresianu, a federal policy analyst at the Tax Foundation, said that the bill would raise the inflation; but it's still unclear by how much.
According to CNN, several of the provisions within the Build Back Better bill are intended to reduce the cost of living for low and middle-income families. Those who are qualified can receive child care benefits and certain states could also create a free pre-K system for young children.
So, in the long run, the bill could help reduce the inflation that lower and middle-income families could face. However, it's unclear if the bill will ever be passed into law.
Related Article: Democrats Encouraged To Fight For Paid Parental Leave as Part of Joe Biden's Build Back Better Program, Bill Will Encourage Women To Keep Working
