CBO Reveals How Bad the Manchin-Schumer Bill Is While Parliamentarian Stomps on Dems’ Dreams – Opinion

It turned out that there was a reason the Democrats tried to hurry through the Manchin-Schumer agreement before the Congressional Budget Office, (CBO), fully assessed the bill’s impact.

Already approved by the Senate, the House will vote on the bill on Friday. Around 35 percent will vote via remote.

The CBO said on Thursday that it needs more time to fully score the current Senate-passed version of the bill but it’s been scheduled for a House vote anyway.

“Given the scope of the amendments to title I, Committee on Finance, CBO expects that it will be a few weeks before we can fully analyze and estimate those budgetary effects, at which point we will provide a complete cost estimate for the legislation,” CBO Director Phillip Swagel wrote on Thursday in a letter to Sen. Bernie Sanders (I-Vt.), the chairman of the Senate Budget Committee.

CBO has disproved the CBO’s claim of not increasing taxes on individuals earning below $400,000. People with a net worth of $400,000 or less were proposed by the GOP to amend the bill. This amendment would ensure that they are protected against the negative effects of the bill.

The CBO said that they had “not completed a point estimate of this amendment but the preliminary assessment indicates that amendment 5404 would reduce the ‘non-scorable’ revenues resulting from the provisions of section 10301 by at least $20 billion over the FY2022-FY2031 period.”

In other words, the CBO is saying the Biden/Manchin/Schumer monstrosity bill anticipates grabbing $20 billion from lower and middle-class people. It’s not just about going after billionaires, so it is absurd. It’s never just “billionaires,” just like it’s never lupus on the television show, “House.” It’s always a lie that it’s going to be limited. This is basically the confirmation that the Biden team lies. Democrats declined to approve the amendment that would have protected lower- and middle-class Americans.

It is now being claimed by 360 economists.

Manchin claimed that he was concerned about the preservation of the energy sector, but he included a terrible provision in the bill.

The real killer, however was the grant of authority. This would have allowed regulators to take over the coal-fired fossil fuel industry. The Clean Air Act doesn’t say agencies can regulate greenhouse-gas emissions as pollutants, and the issue has been fought over in court. Mr. Manchin’s deal included a provision that explicitly authorized the Environmental Protection Agency to do so under numerous provisions of the law.

This could have nullified coal producers’ ability to challenge regulation under the recent Supreme Court ruling in West Virginia v. EPA that said Congress must clearly authorize agency actions that have major economic significance. In a rejoinder to the coal producers, Mr. Manchin claimed the bill did “not provide any new authority for EPA to shut down coal plants.”

This provision may have enabled all manner of regulations which would have been detrimental to the energy sector and flouted the Supreme Court decision.

Shelly Moore Capito, a fellow senator from West Virginia, proposed an amend to remove it. Democrats, including Manchin, rejected it. But then Capito appealed to the Parliamentarian that this didn’t comply with budget reconciliation rules which prohibit measures whose budgetary effects are “merely incidental” to the policy impact. The Senate Parliamentarian accepted the proposal and passed it. Manchin, along with all Democrats, would have granted the EPA unrestricted authority over the entire industry. So either he isn’t a moderate or he just got played big time by Schumer on that one.

Manchin got played in all of this. We also reported that he had experienced a net decrease in favorability since the signing of this agreement. It isn’t just a justified decision, it is also a sign of how popular this bill really is, when he abandons it abruptly.

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