Senator Joe Manchin said he 'cannot vote to continue with' US President Joe Biden's Build Back Better Bill. AP
Senator Joe Manchin said he 'cannot vote to continue with' US President Joe Biden's Build Back Better Bill. AP
Senator Joe Manchin said he 'cannot vote to continue with' US President Joe Biden's Build Back Better Bill. AP
Senator Joe Manchin said he 'cannot vote to continue with' US President Joe Biden's Build Back Better Bill. AP

US senator Joe Manchin sinks Biden’s ambitious legislative hopes


Willy Lowry
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Senator Joe Manchin has dealt a major blow to President Joe Biden’s ambitious legislative agenda.

Mr Manchin said on Sunday he could no longer support Mr Biden’s Build Back Better Bill, the multi-trillion dollar climate and social spending bill that would help reshape the country.

“I cannot vote to continue with this piece of Legislation,” he told Fox News.

Democrat Mr Manchin has voiced concern for the bill from the very beginning and for months has been a stubborn hold out.

But this is the first time he has dealt a potential death blow to the legislation.

“I’ve tried everything humanly possible. I can’t get there. This is a no.”

Mr Manchin has worked closely with the president for months on this bill, but he cited concerns over another surge in Covid-19 cases and adding to the national debt, which sits at over $28 trillion.

“The president has worked diligently. He’s been wonderful to work with. He knows I’ve had concerns and the problems I’ve had,” said Mr Manchin.

Mr Biden and his team had already curtailed the bill significantly to appease Mr Manchin, including reducing the price tag and getting rid of a clean electricity programme that the senator feared would negatively impact his constituents in coal dependent West Virginia.

But it appears that wasn’t enough.

News of Manchin’s decision sent shockwaves through Washington.

“I think he's going to have a lot of explaining to do to the people of West Virginia,” senator Bernie Sanders told CNN.

The White House appears to have been caught off guard by Senator Manchin's comments and responded on Sunday. "If his comments on FOX and written statement indicate an end to that effort, they represent a sudden and inexplicable reversal in his position, and a breach of his commitments to the President and the Senator’s colleagues in the House and Senate," said Press Secretary Jenn Psaki in a statement.

With an evenly split Senate, Mr Biden needs the support of all 50 democratic senators to pass legislation, without Mr Manchin, his hopes of pushing through the Build Back Better Bill are slim.

It’s not the way the president wanted to end a difficult year, with his legislative agenda on life support and Covid cases raging across the country.

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Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Group A
Kyrgyzstan v Qatar, 5.45pm
Iran v Uzbekistan, 8pm
N Korea v UAE, 10.15pm
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The specs: 2018 BMW X2 and X3

Price, as tested: Dh255,150 (X2); Dh383,250 (X3)

Engine: 2.0-litre turbocharged inline four-cylinder (X2); 3.0-litre twin-turbo inline six-cylinder (X3)

Power 192hp @ 5,000rpm (X2); 355hp @ 5,500rpm (X3)

Torque: 280Nm @ 1,350rpm (X2); 500Nm @ 1,520rpm (X3)

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Super Bowl LIII schedule

What Super Bowl LIII

Who is playing New England Patriots v Los Angeles Rams

Where Mercedes-Benz Stadium in Atlanta, United States

When Sunday (start time is 3.30am on Monday UAE time)

 

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Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

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Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Updated: December 20, 2021, 9:52 PM