Senator Joe Manchin's opposition to the Build Back Better Act prompted Goldman Sachs to swiftly dim its US economic outlook.
The Wall Street firm told clients Sunday it no longer assumes President Joe Biden's signature legislation will get through the narrowly divided Congress, citing the West Virginia Democrat's announcement that he's a"no" on the $1.75 trillion bill."A failure to pass BBB has negative growth implications," Goldman Sachs economists, led by Jan Hatzius, said in the research report.
Biden's Build Back Better bill under threat from surging prices, Goldman Sachs says"With headline CPI reaching as high as 7% in the next few months in our forecast before it begins to fall, the inflation concerns that Sen. Manchin and others have already expressed are likely to persist, making passage more difficult," Goldman Sachs economists wrote."The omicron variant is also likely to shift political attention back to virus-related issues and away from long-term reforms.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Joe Manchin says he won't support Biden's Build Back Better legislation'I've tried everything humanly possible. I can't get there,' the West Virginia senator said.
Baca lebih lajut »
Joe Manchin dealt mortal blow to voting rights legislation as he killed Build Back Better'Voting—just voting—is the bedrock of democracy. We should all be concerned about that,' he said. 'It shouldn't be Democrat or Republican.'
Baca lebih lajut »
Republicans applaud Joe Manchin for rejecting Biden's 'terrible' Build Back Better Act'This is one of the best Christmas gifts America could get this year. This bill was far too expensive and far too radical,' said Rep. Robert Aderholt.
Baca lebih lajut »
Progressives slam Joe Manchin for rejecting Biden's Build Back Better Act'He has never negotiated in good faith and he is obstructing the President's agenda,' Rep. Ayanna Pressley said in reaction to Manchin's decision.
Baca lebih lajut »
Progressives urge Build Back Better vote to put Manchin, GOP on record: 'This fight is not over'If Joe Manchin 'wants to vote against the Build Back Better Act, he should have the opportunity to do so with a floor vote,' Bernie Sanders said Sunday.
Baca lebih lajut »
Manchin's media critics predict Build Back Better 'no' vote is threat to the 'future of American democracy'After learning about Sen. Joe Manchin’s, D-W.Va., plan to vote against President Biden’s Build Back Better plan, liberal media pundits began panicking about the supposed threat to democracy.
Baca lebih lajut »