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Why Manchin can’t support Dems’ $2T Build Back Better bill

Published

3 years ago

on

Democratic Senator Joe Manchin says he will not support the Build Back Better Act, dealing a fatal blow to Biden’s proposed social safety net

Manchin’s stance will effectively end negotiations on the current version of the legislation, with the lawmaker expressing concerns over certain provisions.

At the centre of his disagreement with the bill is how it may worsen already soaring inflation across the United States.

Manchin says President Biden has worked diligently to bring him over the line, but when push comes to shove, he simply can’t support it.

Manchin’s support for the 1.9 trillion dollar spending initiative is necessary for the Democrats to pass the legislation in the tightly-held Senate.

The plan would see an expansion of America’s social safety net, reducing childcare and health care costs, and tackling climate change.

Fellow Senator Bernie Sanders has also responded to Manchin’s failure to support the bill, saying his decision does not represent the views and opinions of his state of West Virginia.

Sanders says almost every Democrat is trying to address a range of social security issues, and Manchin doesn’t have the guts to stand up to powerful special interests.

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Trump lands in Saudi Arabia for major deals

Trump arrives in Saudi Arabia, launching a four-day Middle East tour focused on economic deals, welcomed by Crown Prince Mohammed bin Salman.

Published

21 hours ago

on

May 14, 2025

By

Trump arrives in Saudi Arabia, launching a four-day Middle East tour focused on economic deals, welcomed by Crown Prince Mohammed bin Salman.


President Trump has officially landed in Saudi Arabia, kicking off a high-stakes four-day tour across the Middle East aimed at major economic wins.

Welcomed personally by Crown Prince Mohammed bin Salman, Trump’s arrival signals the start of key discussions with leaders from Saudi Arabia, Qatar, and the UAE.

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S&P 500 rebounds as Nvidia boosts tech shares

S&P 500 rebounds as Nvidia boosts tech shares amid easing U.S.-China trade tensions and softer inflation data.

Published

1 day ago

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May 14, 2025

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S&P 500 rebounds as Nvidia boosts tech shares amid easing U.S.-China trade tensions and softer inflation data.

In Short:
The S&P 500 rose 1% on Tuesday, buoyed by improving U.S.-China trade relations and strong performances from companies like Nvidia. Despite some concerns about high valuations, analysts showed cautious optimism for continued market growth due to positive economic data and government investments.

The S&P 500 rose on Tuesday, returning to positive territory for the year as easing U.S.-China trade tensions boosted investor confidence.

The index gained 1%, with the Nasdaq Composite increasing 1.8%. The Dow Jones Industrial Average fell by 166 points, or 0.3%, due to an 18% drop in UnitedHealth shares.

Nvidia’s stock led the market, advancing 6% after announcing the shipment of 18,000 artificial intelligence chips to Saudi Arabia. This news positively impacted peer companies such as Broadcom and AMD, which increased by around 4%.

Following this rally, the S&P 500 is now up 0.2% for 2025, after previously being down over 17% due to trade uncertainties. The market responded positively to news of a 90-day tariff pause between the U.S. and China, which contributed to a significant surge in stock prices.

Market analysts noted that improved sentiment stems from several factors, including the chip deal, easing inflation pressures, and anticipated tax cuts. The White House also announced a $600 billion investment in the U.S. economy.

In addition to the trade news, softer-than-expected inflation data in April, which reported a 2.3% increase in the consumer price index, further energised the market. Economists had predicted a 2.4% rate.

Investment experts express cautious optimism, acknowledging ongoing concerns surrounding high valuations and market concentration, but suggest that current data may lead to continued market growth in the short term.

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Trump may accept Qatari jet as the new Air Force One

Trump administration considers Qatari royal jet as potential temporary Air Force One, raising diplomatic and ethical concerns.

Published

2 days ago

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May 13, 2025

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Trump administration considers Qatari royal jet as potential temporary Air Force One, raising diplomatic and ethical concerns.


The Trump administration is reportedly in talks with Qatar to use a royal aircraft as a potential temporary Air Force One.

The jet — owned by the Qatari royal family — would be retrofitted for presidential use and could be offered as a gift during Trump’s term, with the possibility of it being used again as part of his future presidential library.

While no final decision has been made, the deal raises logistical, diplomatic, and ethical questions around foreign gifts, presidential travel, and how Trump may symbolically separate himself from traditional norms.

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