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December 21, 2021

Manchin says 'no' to BBBA, pushing back package approval

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This weekend Senator Joe Manchin, D-W.Va., publicly opposed the Build Back Better Act (BBBA), telling Fox News on Sunday, “I cannot vote to continue with this piece of legislation.” The Democratic party’s $1.7 trillion education, healthcare and climate package has been drafted and revised for the past few months to pass the bill through the 50-50 Senate. Manchin has previously opposed elements of the package, including proposed IRS reporting requirements for financial institutions.

The current package has passed the House of Representatives, however the Democratic party may have to start building a new package and work the bill through Senate Committees if they want to find a bill that Senators Manchin and Kirsten Sinema (D - Ariz.) will support.

The association remains alert on the progression of the BBBA and will continue to advocate against provisions that would further complicate credit union compliance. Stay tuned to NAFCU Today for the latest on the legislation as it moves through Congress.

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