In what continues to be contentious back-and-forth litigation regarding the U.S. Government’s potential $1.75 trillion social spending bill, Kentucky Republican Senator Rand Paul is uttering words of support for Democratic West Virginia Senator Joe Manchin — who on Tuesday confirmed he has yet to sign off on the framework of the mega-deal.
During a Tuesday morning interview with News Director Alan Watts, Paul lauded Manchin’s efforts to wrangle in what he said began as a nearly $4 trillion spending spree aimed at bipartisanship — but has also been deemed frivolous by the Republican caucus and, apparently, some moderates.
Paul noted that even the $1.75 trillion deal, should it eventually reach law, could cause more problems — particularly with a continued high rate of inflation. According to tradingeconomics.com, September’s inflation rate sat at a 13-year high of 5.4%, and this is 10 months after officials from the Federal Reserve System expected an average inflation of 1.8% for the entire fiscal year.
And while inflation rates can provide a strong barometer of the nation’s supply of unused goods and labor hours, Paul notes increased prices for products and services only hurts those near the middle of the spending spectrum — causing middle-class fallout.
Per thehill.com, part of this landmark infrastructure bill would have included significant financial commitments to climate change following the Trump administration’s aversion of lower emissions. Manchin, however, rebuffed progressives and some climate provisions, and House Democrats hope to vote on both bipartisan infrastructure and the social spending bill later this week — in order to get something locked in prior to Thanksgiving.
Bipartisan infrastructure passed in the Democratic-led Senate during the August session, and is awaiting a Democratic-led House for its passage. As of Tuesday, Manchin reportedly wanted a Congressional Budget Office analysis on the impact and the costs of the bill and “still didn’t support including Medicare expansion or paid leave in the bill.”
Paul, meanwhile, agrees — and will continue to warn about ballooning costs.
The House could pass both bills as early as Tuesday afternoon.
