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The Hill’s Morning Report – Presented by Charter Communications – Dem wheels wobble on BBB train; Fed rate hikes in ’22


Politics

The Hill’s Morning Report – Presented by Charter Communications – Dem wheels wobble on BBB train; Fed rate hikes in ’22


                           Presented by Charter Communications

 

 

Welcome to The Hill’s Morning Report. It is Thursday! We get you up to speed on the most important developments in politics and policy, plus trends to watch. Alexis Simendinger and Al Weaver are the co-creators. Readers can find us on Twitter @asimendinger and @alweaver22. Please recommend the Morning Report to friends and let us know what you think. CLICK HERE to subscribe!

Total U.S. coronavirus deaths each morning this week: Monday, 797,348; Tuesday, 798,710; Wednesday, 800,473; Thursday, 802,511. 

Not even Santa Claus can satisfy the Democratic Christmas wishlist as their hopes to pass the Build Back Better package or a voting rights proposal by next week’s holiday were dimmed significantly on Wednesday. 

 

Talks between top Democrats and Sen. Joe ManchinJoe ManchinPhotos of the Week: Tornado aftermath, Medal of Honor and soaring superheroes Charlamagne Tha God, Harris get into heated exchange after question about who ‘real president’ is Krysten Sinema is less of a political enigma than she is a strategic policymaker  MORE (D-W.Va.) are on the verge of cratering, all but ensuring that the party’s nearly $2 trillion social spending and climate bill will not be passed by Christmas, a self-imposed goal of Senate Majority Leader Charles SchumerChuck SchumerManchin-led committee proposing hike to federal drilling fees Schumer, Cruz at standoff over Biden nominees Exclusive: Schumer and Latino leaders tout spending plan’s environmental credentials MORE’s (D-N.Y.). As The Hill’s Alexander Bolton details, at issue is the Democratic effort to extend the child tax credit for one year.

 

Instead, Manchin is proposing the idea of extending the credit for multiple years so that the proposal, which is likely to be extended by Congress in the future, is fully reflected in the Build Back Better bill, which is now officially projected to cost roughly $2 trillion over the next decade.

 

“Manchin is trying to back out of a deal with the White House,” said one Democratic source familiar with the negotiations between President BidenJoe…



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