Joe Manchin Says Biden's Build Back Better Is Dead, Dashes Hopes For Child Tax Credit Boost

Sen. Joe Manchin labeled President Joe Biden's Build Back Better plan "dead" on Tuesday to emphasize that any resurrection of domestic concerns would have to come from now-stalled discussions.

The bill's coffin has been hammered even again by Senator Joe Manchin's latest hammer. While speaking with reporters on Tuesday, the Democrat from West Virginia stated that he hasn't talked about the bill since December 2021.

According to the White House, there is a lot of support in Congress for pushing through with the Build Back Better initiatives on social expenditures.

Manchin's vote is crucial to pass Build Back Better bill into law

His support was crucial for Democrats to approve the measure, which was passed by the House and is a cornerstone of Biden's economic and domestic agenda. However, he and Democratic Senator Kyrsten Sinema have withdrawn their support for the bill, preventing it from passing the Senate, which is equally divided.

Jen Psaki, the Senate's press secretary, told reporters on Monday that senators and their staff are debating whether a large part of the measure would be able to get enough support in the 50-50 Senate.

Among other social safety net expansions, the $1.75 trillion packages negotiated last year would create universal pre-K, extend the enhanced child tax credit, and pay for Medicare expansion and child care subsidies, among other things.

The Democrats want to move the bill through the Senate through reconciliation, which would eliminate the requirement for any Republican support and the filibuster rule in the Senate. However, in December, Manchin stated that he was unable to support the plan as word, as per Newsweek via MSN.

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Manchin's refusal to vote in favor of the vote kills CTC boost

It's also a huge setback for millions of Americans who were hoping to see their Child Tax Credit payments increase this year. The increased Child Tax Credit took millions of children out of poverty last year, and many families were able to rebuild their finances once the pandemic hit. During a period of high inflation, it also allowed many families to keep up with their basic living expenses.

Manchin may effectively eliminate the increased Child Tax Credit for 2022 if he kills Build Back Better. The credit was limited to $3,600 for children under the age of six and $3,000 for those between the ages of six and seventeen under the upgraded version. Without that increment, the credit will be limited to $2,000 in total.

If the increased Child Tax Credit expires in 2022, families will not lose money. They'll have to wait a long time for it to arrive. When a refund is due, tax credits are usually claimed on tax returns and paid in one lump payment.

Half of the increased Child Tax Credit was paid in monthly installments starting in July and ending in December last year. Initial expectations were that the monthly payments would continue beyond 2022, providing beneficiaries with a continuous source of income. Those monthly payments will be out of the question if the credit reverts to its previous position, according to The Motley Fool via MSN.

After Manchin's reluctance stalled it before Christmas, President Joe Biden launched a new effort this week to bring Build Back Better over the finish line. To debate the measure, he summoned a group of CEOs to the White House.

When Biden gave a speech in Pittsburgh later that year, he mentioned some of the elements of Build Back Better. Gina Raimondo, Biden's Commerce Secretary, told Politico on Monday that she felt the administration could persuade Manchin to vote yes, Mail Online reported.

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