Critics, supporters alike may be 'misleading' the public on scale of Democrats' reconciliation bill
Both sides of the progressive-moderate debate in Congress may be "misleading" the American public on the true scale of Democrats' budget reconciliation bill, Eric Levitz writes for New York.
Critics like Sen. Joe Manchin (D-W.V.) and supporters such as Sen. Bernie Sanders (I-Vt.) frequently emphasize the proposal's $3.5 trillion price tag. The former paints it as too exuberant and risky, while the latter champions it as historic and transformative. If passed, it would ultimately be the biggest expansion of the American welfare state in half a century, Levitz acknowledges, but that's over the long-run. Its actual immediate, single-year fiscal cost is $350 billion.
The reason Levitz thinks it's worth making that distinction is that Manchin and other moderates backed two coronavirus relief bills in the past year that cost $2 trillion and $900 billion upfront, which means the lawmakers have already supported more expensive packages. And if the primary concern about the bill is that it could drive up inflation, the immediate cost is a better metric, Levitz argues.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"By any reasonable measure, the reconciliation bill poses less inflationary risk than the relief bills that Joe Manchin and his fellow 'moderates' already voted for," Levitz writes, explaining that direct relief payments are more likely to rapidly boost demand to the point where it outstrips supply than the investments in the reconciliation bill.
While Levitz is critical of Manchin's position, he also suggests that proponents are giving the holdouts more ammunition by continuing to frame the bill as they are. Read the full argument at New York.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.
-
Why Bhutan hopes tourists will put a smile back on its face
Under The Radar The 'kingdom of happiness' is facing economic problems and unprecedented emigration
By Chas Newkey-Burden, The Week UK Published
-
7 beautiful towns to visit in Switzerland during the holidays
The Week Recommends Find bliss in these charming Swiss locales that blend the traditional with the modern
By Catherine Garcia, The Week US Published
-
The Week contest: Werewolf bill
Puzzles and Quizzes
By The Week US Published
-
GOP's Mace seeks federal anti-trans bathroom ban
Speed Read Rep. Nancy Mace of South Carolina has introduced legislation to ban transgender people from using federal facilities
By Rafi Schwartz, The Week US Published
-
Ukraine fires ATACMS, Russia ups hybrid war
Speed Read Ukraine shot U.S.-provided long-range missiles and Russia threatened retaliation
By Peter Weber, The Week US Published
-
New York DA floats 4-year Trump sentencing freeze
Speed Read President-elect Donald Trump's sentencing is on hold, and his lawyers are pushing to dismiss the case while he's in office
By Rafi Schwartz, The Week US Published
-
Wyoming judge strikes down abortion, pill bans
Speed Read The judge said the laws — one of which was a first-in-the-nation prohibition on the use of medication to end pregnancy — violated the state's constitution
By Peter Weber, The Week US Published
-
US sanctions Israeli West Bank settler group
Speed Read The Biden administration has imposed sanctions on Amana, Israel's largest settlement development organization
By Rafi Schwartz, The Week US Published
-
Gaetz ethics report in limbo as sex allegations emerge
Speed Read A lawyer representing two women alleges that Matt Gaetz paid them for sex, and one witnessed him having sex with minor
By Peter Weber, The Week US Published
-
Biden allows Ukraine to hit deep in Russia
Speed Read The U.S. gave Ukraine the green light to use ATACMS missiles supplied by Washington, a decision influenced by Russia's escalation of the war with North Korean troops
By Peter Weber, The Week US Published
-
Sri Lanka's new Marxist leader wins huge majority
Speed Read The left-leaning coalition of newly elected Sri Lankan President Anura Kumara Dissanayake won 159 of the legislature's 225 seats
By Peter Weber, The Week US Published