Last updated on July 18th, 2023 at 01:22 pm
Sen. Manchin agreed to a deal that looked a lot like the Democratic agreement on unemployment benefits as the Biden stimulus is back on track to pass.
Sen. Manchin said in a statement provided to PoliticusUSA, “The President has made it clear we will have enough vaccines for every American by the end of May and I am confident the economic recovery will follow. We have reached a compromise that enables the economy to rebound quickly while also protecting those receiving unemployment benefits from being hit with unexpected tax bill next year. Those making less than $150,000 and receiving unemployment will be eligible for a $10,200 tax break. Unemployment benefits will be extended through the end of August.”
Unemployment benefits will be extended through September 6 at an additional $300 a week. The first $10,200 of unemployment benefits will not be tax deductable for people making less than $150,000. Manchin ended up making a deal that was much closer to the Democratic proposal than Sen. Rob Portman‘s Republican proposal.
Sen. Manchin now gets to tell the voters back home in West Virginia that got means testing for tax forgiveness of unemployment benefits, but the reality is that the Senate spent a day on a comprise that will ensure final passage of the Biden stimulus bill.
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