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Patriotic Millionaires Slam Senator Manchin on Lack of Support for Build Back Better

“If Senator Manchin is so concerned about the debt, we would be thrilled to see the Build Back Better Act revised to include more tax increases on the rich. Manchin said that Democrats should start with tax reform, so it’s time for Democratic leadership to call him on that.”
WASHINGTON -

Today, West Virginia Senator Joe Manchin declared on Fox News that he will not be voting for the Build Back Better Act, citing concerns over rising inflation, the new Omicron coronavirus variant, and rising federal debt as reasons for his opposition.

In response, Morris Pearl, the Chair of the Patriotic Millionaires and a former managing director at BlackRock, Inc., released the following statement:

“It is ridiculous that Senator Joe Manchin is now refusing to vote for the Build Back Better Act. He is betraying the American people and his West Virginian constituents. The Build Back Better Act would make many important steps towards unrigging an American economy that currently works against Joe Manchin’s constituents. For Manchin to drag out negotiations for months and now refuse to vote for this bill is unacceptable and a disgrace.

Manchin cited concerns over inflation and rising federal debt as reasons for his refusal to vote for the $1.75 trillion Build Back Better Act. These aren’t just off-base: they’re borderline nonsensical. Economists have agreed that the social and climate spending provisions in the Act would not exacerbate inflation but would rather go a long way in slowing it down.  All of the Build Back Better programs are fully paid for by tax increases by the wealthy and corporations, and would reduce the federal deficit by allowing more people to enter the labor force, work, and pay taxes.

If Senator Manchin is so concerned about the debt, we would be thrilled to see the Build Back Better Act revised to include more tax increases on the rich. Manchin said Democrats should start with tax reform, so it’s time for Democratic leadership to call him on that. They should put forward an even more comprehensive list of tax hikes on the wealthy if that’s what he claims it will take to win his support.

We strongly urge Senator Manchin to reconsider his position on the Build Back Better Act. Voters put Democrats into the House, Senate, and White House in the 2020 elections with the expectation that they would deliver for them. It is an absolute shame that they can’t do this because of a single Senator from West Virginia. It would be even more of a shame if they all ended up paying for it in 2022 and 2024.” 

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The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country’s political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three “first” principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.

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