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Joe Biden

Build Back Better Could Be... Better in 2022

Tradier | Equities.com |

West Virginia Senator Joe Manchin dropped a bomb on the Biden administration when he said he would not support the $1.9 trillion Build Back Better legislation. With a 50-50 split in the Senate, a no vote from a Democrat was a death knell for the pending program. The senator cited rising inflation as a reason why the US cannot afford to spend another almost $2 trillion after the cost of the legislation would not be covered by tax hikes.

While Republicans cheered, the move angered many Democrats as the legislation is the cornerstone of the President’s campaign pledges. As we move forward into 2022, the Build Back Better legislation has suffered a blow, but it could yet make a comeback.


US Companies Must Prove Imports From China's Xinjiang Region Are Made Without Forced Labor

AP News | Equities.com |

President Joe Biden signed a bill into law Thursday to block imports from China’s Xinjiang region unless businesses can prove the items were made without forced labor, the latest in a series of intensifying U.S. penalties against the Asian power for alleged abuses.

The measure had to overcome some initial hesitation from the White House, as well as corporate opposition, to win final passage last week in the Senate, following earlier House passage. Biden also signed a separate bill Thursday funding research into a cure for Lou Gehrig’s disease.


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