Congress

(CNN) The Internal Revenue Service sent out the last monthly infusion of the expanded child tax credit Wednesday -- unless Congress acts to extend it for another year. Eligible families have received monthly payments of up to $300 per child since July as part of the Democrats' $1.9 trillion coronavirus relief bill, which President Joe Biden signed in March. But the beefed-up credit is only in effect for 2021. Democratic leaders want to extend the monthly payments for certain families for another year as part of the party's $1.9 trillion spending bill . But the legislation faces opposition from West Virginia Sen. Joe Manchin , a Democrat, who is concerned about the cost of the sweeping safety net enhancements. Manchin wants to cut the child tax credit from the bill, according to a source briefed on his conversations with Biden. Doing so is a non-starter for the President, sources note. It's unclear whether the legislation, which the House … [Read more...] about December’s child tax credit payment is the last one unless Congress acts

A coalition of tech advocacy groups is warning members of Congress and federal antitrust enforcers against the potential dangers posed by tech giants expanding into the automobile industry. “Make no mistake: the expansion of Google, Amazon, Apple, and Facebook into the auto sector spells trouble for workers and consumers,” the groups wrote in a letter sent Tuesday, according to a copy shared exclusively with The Hill. The letter was sent by nearly 30 groups, including the American Economic Liberties Project and Demand Progress, to Sens. Amy Klobuchar Amy Klobuchar Bipartisan Senate group discusses changes to election law Wicker: Biden comments on Ukraine caused 'distress' for both parties Effort to overhaul archaic election law wins new momentum MORE (D-Minn.) and David Cicilline David Cicilline Democrats eager to fill power vacuum after Pelosi exit In their own words: Lawmakers, staffers remember Jan. 6 insurrection Lawmakers call for … [Read more...] about Advocacy groups urge Congress to tackle tech giants’ auto industry focus

LOS ANGELES (AP) — House Speaker Nancy Pelosi announced Tuesday she will seek reelection, ending speculation that she would retire as Democrats face the threat of losing control of Congress in the 2022 midterms. “While we have made progress, much more needs to be done to improve people’s lives,” the 81-year-old Pelosi said in an online video. “This election is crucial. Nothing less is at stake than our democracy,” she added. By announcing she would seek a 19th term, Pelosi avoids becoming a lame duck in a year when Democrats are clinging to a fragile majority in the House and the party is under pressure to raise vast sums of money to defend control of Congress. The party that controls the White House typically loses seats in Congress in midterm elections, and Democrats are defending both chambers at a time when President Joe Biden's approval rating has been slipping. “Our democracy is at risk because the assault on the truth, assault on the U.S. Capitol and the … [Read more...] about Pelosi to seek reelection with Democratic majority at risk

London (CNN Business) The pandemic will continue to stoke uncertainty and inflation in its third year, undermining the global recovery from the coronavirus and pushing total economic losses toward $14 trillion. That's according to the International Monetary Fund, which on Tuesday slashed its global growth forecast for 2022 by half a percentage point to 4.4%. The group said the world's two largest economies, the United States and China, would grow more slowly than it predicted in October. The IMF sees America's economic output increasing 4% this year after rising by 5.6% in 2021. It shaved 1.2 percentage points off its previous forecast due to "lower prospects" that Congress will pass President Joe Biden's Build Back Better economic plan , lingering supply chain disruption and the rising chance of aggressive action by the Federal Reserve to rein in inflation. In China, economic growth for 2022 is now pegged at 4.8%, 0.8 percentage points lower than … [Read more...] about Faltering global economy faces total pandemic hit of $14 trillion

(CNN) In 2009, Senate Democrats spent months courting Republican Charles Grassley in search of bipartisan support for the Affordable Care Act. By that September, President Barack Obama had lost patience. "Let me ask you a question, Chuck," Obama said in an Oval Office meeting he recounted in his 2020 memoir . "Are there any changes -- any at all -- that would get us your vote?" "I guess not, Mr. President," Grassley replied, concluding negotiations. Is Sen. Joe Manchin now reprising Grassley's role on President Joe Biden's Build Back Better plan? If so -- if nothing can ultimately get the West Virginia Democrat to "yes" -- then more wheedling represents a waste of time. The legislation cannot pass without him. But the White House and party leaders, believing they cannot afford to fail, maintain hope that Manchin's vote can be won. That means exploring ways to reshape Biden's plan to meet the senator's objections. How months of … [Read more...] about Is there a version of Biden’s economic plan that Joe Manchin can support?

(CNN) President Joe Biden was at home in Delaware Sunday when Sen. Joe Manchin appeared on Fox News to abruptly declare he could not support his sweeping social and climate plan . "I've tried everything humanly possible," the West Virginia Democrat said, appearing remotely. "I can't get there. This is a no." Biden, who learned of Manchin's plans only minutes before the TV appearance, tried quickly to get the senator on the phone. But his attempts were unsuccessful. Manchin's move astonished and infuriated the President and his top advisers, people familiar with their reaction said, after having spent the past 12 months in talks with the senator — in Delaware, at the White House, on the phone and even aboard Manchin's houseboat. In an equally surprising step, the White House torched Manchin afterward in a statement bristling with resentment that shattered the amity Biden had sought to cultivate. Here's what's in Biden's Build Back Better … [Read more...] about How months of talks between Biden and Manchin over Build Back Better broke down

Washington (CNN) A sweeping $1.9 trillion spending plan , known as the Build Back Better bill, is making its way through Congress and could make a key part of President Joe Biden's economic agenda a reality. A majority of the funding is focused on transforming the nation's social safety net by reducing the cost of child and health care, as well as combating climate change. The Congressional Budget Office estimates that the legislation would increase the deficit by $367 billion over the next 10 years. But the White House has worked to make the case that the bill will be fully paid for when accounting for a proposal to enhance tax enforcement, which the CBO excluded. The bill passed the House in November but faces a tough road in the Senate, where it is expected to undergo some changes. As currently written, the legislation would create universal pre-K, send families an enhanced child tax credit and provide beefed-up subsidies on the Affordable Care Act … [Read more...] about 10 things you didn’t know are in the Democrats’ Build Back Better bill

(CNN) Anger is growing in Democratic ranks over the failure to get President Joe Biden's sweeping agenda through this year despite unified control of Congress, with their party already bracing for what could be a brutal Election Day in next November's midterms. Major issues they promised to deliver on, such as a bill to overhaul voting laws, stand virtually no chance of becoming law. And the biggest ticket item -- the $1.75 trillion Build Back Better plan to dramatically expand the social safety net -- is still mired in talks with West Virginia Sen. Joe Manchin , has yet to be drafted into final legislative text or even fully vetted by the Senate parliamentarian. Despite major accomplishments this year, such as passage of the $1.2 trillion infrastructure law and the nearly $2 trillion Covid relief package amid razor thin majorities in both chambers, there's a palpable sense of frustration among Democrats that much more should have been accomplished -- especially given … [Read more...] about ‘A 50-50 Senate sucks’: Dejected Democrats fret over agenda failure amid grim 2022 outlook

(CNN) After months of negotiations and passage in the House last month, President Joe Biden's sweeping $1.75 trillion economic and climate package was dealt a major blow on Sunday when a key Democratic senator said he cannot support the bill. The legislation, which is currently before the Senate, would transform the nation's social safety net despite being whittled down to roughly half its original size amid infighting between the party's moderate and progressive wings. It would create a universal pre-K program, assist families with child care and send them the enhanced child tax credit for another year. It would also provide beefed-up subsidies on the Affordable Care Act exchanges through 2025 and offer federal help to those who fall below the poverty line. It would funnel nearly $570 billion into climate measures, attempt to address affordable housing shortfalls and provide money to parents to buy their kids food over the summer. The … [Read more...] about Here’s what’s in Biden’s Build Back Better plan

(CNN) With Sen. Joe Manchin confirming he's a "no" on President Joe Biden's social spending package , the fate of the bill's $550 bill worth of climate and energy provisions -- and the President's climate agenda -- are now on the line. In a Sunday statement, the West Virginia senator insisted the clean energy transition is "already well underway" in the US but did not mention the deadly and costly threat climate change poses to Americans. Manchin said that investing billions into clean energy "at a rate that is faster than technology or the markets allow will have catastrophic consequences for the American people" and claimed it would increase reliance on foreign supply chains. This stunned many of Manchin's Democratic colleagues in Congress, as well as climate advocates in communication with his office. Before going on recess for the holidays, multiple Democratic lawmakers had told CNN the climate and clean energy provisions were some of the most settled with Manchin, … [Read more...] about ‘I’m kind of speechless’: Democrats scramble to salvage climate provisions after Manchin sinks Build Back Better