Read on Twitter
Maybe you read the latest Joe Manchin op-ed as a red flag for infrastructure. It wasn't. It was a road map for what's coming next. Allow @hillhulse & me to break it down: https://www.nytimes.com/2021/04/08/business/biden-manchin-infrastructure.html 1/
What Manchin and moderate Dems want is a real process, with real time, to see if there is a deal to be had with enough Republicans (10-plus) to go through regular order. Biden & co are giving them that time/space -- with one huge caveat:
The president sets the terms. 2/
The president sets the terms. 2/
Biden's advisers have discussed a wide range of ways the search for bipartisanship could play out. They've discussed delaying corporate tax increases, breaking off some smaller chunks of the agenda into bills that could get big votes (like R&D in supply chains)... 3/
...or even paying for some big chunk of infrastructure with borrowing, as some biz groups want, IF that's what it takes to get 10-plus Republicans onboard in the Senate. 4/
Publicly, Biden has tried to throw the burden of compromise on Republicans. YOU name the pay-fors you'll accept, he says. YOU say what spending you refuse to do.
But, again, he sets the rules:
No tax increases for ppl earning less than $400k, for ex. 5/
But, again, he sets the rules:
No tax increases for ppl earning less than $400k, for ex. 5/
Which is why it remains a longshot that we see a major bill done in a bipartisan way. Biden - and Manchin! - want to go big on infrastructure. They're calling on Republicans to negotiate in the universe of Biden's ambitions. It's not the same as saying, "we'll cut any deal" /fin
ADDENDUM: The process also gives cover to Democratic moderates if no deal materializes. They can say "we tried". Whether a series of small deals are cut, or none at all, reconciliation beckons at the end: https://www.nytimes.com/2021/04/08/business/biden-manchin-infrastructure.html
