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Taking Manchin at His Word

When the Build Back Better Act (BBB) made its way to the Senate last year, an odd trend emerged: Every time West Virginia Senator Joe Manchin would make a clear statement regarding his position on the BBB, the Capitol Hill press corps would respond by ignoring him.

This began last September, when Sen. Manchin made public a signed agreement with Majority Leader Chuck Schumer outlining Manchin’s position:

The West Virginia senator has been distributing the document to Democratic colleagues and leaders in recent days to underscore that he has outlined his red lines on President Joe Biden’s jobs and families

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2022-02-04T16:30:11+00:00February 4, 2022|

BBB Will Make Inflation Worse

Americans are correctly alarmed by the recent spike in prices, while Senator Manchin has made rising prices a key rationale for his opposition to the massive Build Back Better Act (BBB).  Both believe the BBB, particularly the tax hikes, will drive up prices even further.

President Biden and others, on the other hand, push back on the idea that the BBB will drive up prices.  As the President said in his press conference the other day:

My Build Back Better plan cuts the price of drugs…it cuts the cost of elder care and it will do all of this without raising

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2022-01-21T21:11:50+00:00January 21, 2022|

SALT Parity Offers Massive Savings for Main Street

With the Build Back Better Act stalled in the Senate, states should resume efforts to enact our SALT Parity legislation this year.  The SALT cap appears here to stay, at least through 2025, and the savings potentials for family businesses are substantial.

How substantial?  As reported by Richard Rubin in the Wall Street Journal, new numbers out of New York show that that S corporations and partnerships paid $11 billion under the new Pass-Through Entity (PTE) tax the state adopted back in April, translating into between $3 and $4 billion in federal tax savings.  $4 billion!  That’s just one

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2022-01-14T17:24:47+00:00January 14, 2022|

Amid Record Inflation, Business Community Calls on Congress to End BBB Talks

Today’s Bureau of Labor Statistics report showed inflation surging at its fastest pace in 40 years with the consumer price index increasing 7 percent year over year.  Despite these rising prices, lawmakers and the White House are still working to pass the multi-trillion-dollar tax hikes included in the Build Back Better Act.

In response, over 90 trade associations today called on Congress to end efforts to pass Build Back Better and shift its focus to address the pressing issues confronting American families and businesses – rising prices, labor shortages and supply chain disruptions. As the letter reads:

Today’s Consumer Price

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2022-01-12T18:07:00+00:00January 12, 2022|

Manchin a “No” on BBB

The Build Back Better (BBB) bill would have harmed family businesses, cost jobs, and accelerated the economic consolidation already taking place in this country.  It would have been a negative for those states and communities that rely on family businesses as the core of their economies and their social institutions. That’s why S-Corp and the Main Street Employers coalition have been fighting it for the past year.

And now it’s dead – or at least on life support.  Senator Joe Manchin announced this morning on Fox News that he would vote “no” on the BBB.  As he told Bret Baier:

If

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2021-12-19T19:14:17+00:00December 19, 2021|