Listen to Joe Manchin: keep pushing
All eyes are again on Senator Manchin. It's time for Congress to invest in Americans and our future. There are many great options and no time to waste.
Welcome to February!
Every day I wake up thinking it will be a better day, and then I check Twitter. But, hey, this is our world, and no sugar coating it. Manchin certainly ain’t giving us any sugar.
That soundbite is the least surprising thing I have read today. We have known for over a month that Democrats would need to hit refresh, re-think, and re-brand on Build Back Better. So let’s make the most of it. Above all, get it done. Now.
Set priorities. Set them now.
The Democrats do not have time to waste. Be pragmatic. Ask Joe Manchin to write it down. What is important to him? Make him commit. Make the program details and implementation the best possible. Then get it passed. Whatever passes could be the last major piece of economic legislation in the next decade, make it count.
Here is a visual of the President’s Build Back Better. (Please get a new name ASAP, one that says what’s in it.) It’s ambitious and wide-ranging.
I have said from the start that the Democrats should focus on a handful of things and do them VERY well. I will not opine today on the three things I would pick within kids, care, and climate programs. I do not have a vote in the Senate. Let the elected officials decide, and then I will help structure them well.
Do not forget the children. They are our future.
Congress must focus on our future. The upside (?) of doing nothing for decades is that the list is long of what Congress could do now. Our children are our future. They will take care of us in old age, cure cancer, put the fires out on the planet, and fund our Social Security and Medicare. It is morally reprehensible that we have children living in deep poverty in the wealthiest country in the world. It is inexcusable that some children do not have access to good schools and care. The President’s proposal had several programs to help kids.
One example is the new Child Tax Credit, part of the American Rescue Plan but expired in December. I wrote a piece on why it is an excellent policy.
Today, my colleague Jack Landry at the Jain Family Institute has a new research brief pushing back on the University of Chicago critique of the credit. Yes, some parents will work less. But the Chicago study’s estimates are a (wildly) worse case, not a most likely outcome. Would you choose to live in deep poverty? No, I would not.
Also, my patience is worn thin with the ‘haters of children.’ Don’t like this tax credit? Fine. What’s your better idea? It is clear children do not choose their parents, and it’s clear millions of children are living in poverty. GIVE US A SOLUTION.
Congress has so many options are on the table to invest in our kids, such as the new Child Tax Credit, universal pre-K, affordable child care, better pay for care workers, and paid family leave. Sooooooo many options to choose from. Choose wisely, fund it well, and make it the law.
Go at the root causes of inflation.
Finally, let’s talk about inflation. Yes, it’s a problem right now. No, it is NOT a reason to throw away our future. Congress and the Administration could do so much good. They must act. The Fed cannot save us from ourselves.
Again, so many options. Last week, the Washington Post hosted a forum with twelve experts, including me, on fighting inflation. Here’s a thread on all of them.
I argued that getting out of the pandemic is the only surefire way to bring inflation down fast. I recommend thinking about all twelve views, even if I disagree with some.
Whatever they choose (and they must!), the Administration and Congress must use a multi-pronged approach. We need to get inflation down now. We must make the economy more robust to future disruptions (like global climate-change disasters) and address long-standing problems pushing up the costs of housing, education, and health care for decades.
Beware of Groundhog’s Day
Tomorrow is February 2, 2022. It’s time to get us out of the pandemic. It’s time to get the economy working for everyone. But, words are not enough. Covid will not give up and leave, nor will Joe Manchin vote progressive. It’s tough. And it’s time to wake up.
Hey, Phil, spring would be really nice now. We could use some good news.
Wrapping up
Yes, it’s frustrating Congress has not made the big investments in people yet. Even so, we had some big wins last year. The American Rescue Plan was a godsend, and we finally got an infrastructure bill. No, that’s not enough. And wow, it’s a great start.
The coming months are going to be very messy. The political infighting will reach a fevered pitch. Stay focused on who matters: people, especially the people who do not have a voice in the halls of Congress or the West Wing.
Let’s get it done and do it well!
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The views here are my own and do not represent Jain Family Institute or my colleagues.
As a Resident of WV, I've always found the best way to predict The Manchin is how it works for him and his. But he signed this letter with Schumer back in July https://static.politico.com/1e/ef/159cabd547868585f9b1a8f06388/july-28-2021.pdf
A few interesting things - I don't like his view that everything is a "handout" and not an "investment".
Why does immigration cost anything? Is this just to cost of background checks?
I'd prioritize child tax credit/EITC and ACA subsidies over Pre-K/Child Care.
And whatever is in the bill, add enough tax revenue (tax on net CO@ emissions, anyone?) to make it structural budget neutral if not positive.