Sen. Manchin is not backing down from his concerns about rising inflation, which is one of his main roadblocks in supporting President Biden's social spending and climate package.
"By all accounts, the threat posed by record inflation to the American people is not 'transitory' and is instead getting worse," he said, following the release of the latest Consumer Price Index for October, which recorded a 6.2 percent increase, year over year, according to data Wednesday from the Bureau of Labor Statistics.
"From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day," Manchin said.he's concerned a multitrillion-dollar spending package would worsen inflation and that he can't vote for a bill in good conscience that would expand social programs and that would"irresponsibly" add trillions in national debt.
The October numbers show the largest increase in over 30 years and far outpaced economists’ expectations of a 5.9 percent spike. October's data represents a continuation of months of markedly faster rising prices, compared to levels the U.S. economy has seen in recent years. The greatest month-to-month increases were seen in food, up 0.9 percent; energy, up 4.8 percent; and shelter rising 0.5 percent. Used cars and trucks reversed a late summer decline and rose 2.5 percent, and new vehicles notched up a 1.4 percent increase.Friday in the House, after the infrastructure bill passed, with House Democrats voting unanimously to proceed to debate the measure after the Congressional Budget Office issues its cost analysis.
If the bill passes the House, it still needs to clear the Senate, where Manchin has objected to some of the provisions, particularly four weeks of paid family and medical leave.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Wall Street declines, ending a run of record highsWall Street slid on Tuesday, bringing a multi-day rally of straight record closing highs to a close as profit-taking and worries over ongoing inflation fueled a broad sell-off.
Baca lebih lajut »
Wall Street losses end streak of record highs as inflation worry weighs on marketWall Street closed lower on Tuesday, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off.
Baca lebih lajut »
Centrist Democrats gain upper hand on progressives as infrastructure bill heads to Biden’s deskCentrist Democrats now control the fate of President Biden's social spending and climate package after Congress passed his bipartisan infrastructure bill late last week.
Baca lebih lajut »
Kate Garraway makes emotional confession about 'loneliness and fear' amid husband Derek's COVID battleGood Morning Britain host Kate Garraway makes emotional confession about 'loneliness and fear' amid husband Derek Draper's COVID-19 battle
Baca lebih lajut »
Lucy Mecklenburgh's horror as baby son went 'floppy' and turned blue in cotLucy Mecklenburgh and Ryan Thomas' baby son turned grey-blue, went 'floppy', and stumbled in and out of consciousness amid his viral induced wheeze battle
Baca lebih lajut »