Here are the main points of this decision:
Sinema (D-Ariz.) is objecting to provisions in the president's build back better plan that would hike taxes on the wealthy and corporations
•
The plan raises the top income tax rate, boosts the top corporate rate to 25 per cent, and raises taxes on capital gains
•
Revenue is used to fund social programs including universal pre-K and expanded Medicare coverage
•
The West Virginia Democrat has told associates he has a plan to leave his party if his liberal colleagues cannot find a way to cut down the social spending bill
•
Manchin wants to see the $3.5T budget reconciliation plan cut to $1.75T •
If Manchin follows through with the plan, he would switch from Democrat to Independent.