Wednesday, July 27, 2022

Manchin's Inflation Concerns Make No Sense

John Cassidy of the New Yorker writes that Senator Manchin's opposition to climate change provisions of the Democrat's proposal "made no sense," since they would have reduced the budget deficit. It sure looks like Manchin is just using excuses to block this. From the article: 

“…Manchin’s reference to inflation made no sense. In devoting only half of the money that would have been raised from tax increases for new spending, and keeping the rest for deficit reduction, the proposal that Democrats were working on would have had a deflationary impact in budget terms. The obvious answer is that Manchin, yet again, is protecting the fossil-fuel industry, which has donated heavily to his campaigns and still plays a big role in West Virginia’s economy. But there are unanswered questions here, as well. 

“Thanks to Manchin’s earlier lobbying, the parts of Build Back Better that would have affected the coal industry most directly had already been eliminated. If he’d followed through on his support for a narrower green-energy package, Manchin could probably have used his leverage to extract concessions on expanding oil and gas drilling, something he has been calling for recently. ‘He could have asked for anything!’ Jesse Jenkins, a Princeton energy expert who has modelled the climate impact of the Build Back Better proposals, commented on Twitter. ‘Instead he has nothing now, and he’ll be a nobody after November. His constituents have nothing. We all have nothing. So utterly SENSELESS!’ Yes. Senseless for Biden, the Democrats, the environment, and even for Manchin, who, yet again, has forfeited the opportunity to make a more positive contribution. What a woeful legacy he will leave behind him.”

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