Stock Groups

Biden signals Build Back Better bill may be delayed until next year

[ad_1]

U.S. President Joe Biden talks during a meeting in Washington with the White House Covid-19 Team. The Roosevelt Room is located in Washington DC.

Drew Angerer | Getty Images

U.S. President Joe Biden on Thursday appeared to acknowledge that his Build Back Better spending bill may not pass Congress in the remaining weeks of this year, saying Democrats would seek to advance the legislation “over the days and weeks ahead.”

Senator Democratic Leader Chuck Schumer set Christmas deadline to pass the $1.75 Trillion social spending bill and climate change bill. However, negotiations are slowing down.

Biden has been in negotiations with moderate Democratic Senator Joe Manchin, who has withheld his support for the bill, making him a key vote in the evenly divided chamber.

“I believe that we will bridge our differences and advance the Build Back Better plan, even in the face of fierce Republican opposition,” Biden said in a statement.

Manchin said he has reaffirmed his support for the total cost of the bill. He indicated that negotiations continue, however more time is required.

CNBC Politics

Continue reading the CNBC politics coverage

A source familiar with their conversations said talks between Biden and Manchin have been going poorly with the two “far apart” on the contents of a bill.

“It takes time to finalize these agreements, prepare the legislative changes, and finish all the parliamentary and procedural steps needed to enable a Senate vote,” Biden said in his statement.

The legislation has been passed by the Democratic-controlled House of Representatives but faces a harder slog in the Senate.

Democratic colleagues are bringing Manchin under more fire for his position. He is being accused by fellow Democrats of not upholding Democratic priorities.

Manchin was able to ignore the criticism.

Manchin said to CNN, “No one pressures my; I’m from West Virginia.”

Biden said he had spoken to Schumer and House of Representatives Speaker Nancy Pelosi about his most recent discussions with Manchin and that he believes Manchin supporting the funding plan.

He stated that talks with Manchin will continue the following week.

[ad_2]