The administration officials did not mention Manchin or whether Biden would pitch a scaled-down version of the package that the West Virginia Democrat can support. But their emphasis on lowering costs for families and reducing the deficit drive at Manchin’s primary concerns, which is that Democrats shouldn’t approve a trillions of dollars in new spending while inflation remains high, and that the party needs to focus more on fiscal responsibility.
Democrats also appear to be rebranding the measure, which they previously dubbed “Build Back Better,” after Biden’s 2020 campaign slogan. In recent months, some top Democrats, including Speaker Nancy Pelosi, have suggested it may need a new name, as the measure stalled and is likely to undergo significant changes in the Senate.
The administration officials demurred when asked if Biden would actually use the words “Build Back Better” in his speech. “It’s not about the name of the bill. It’s about the ideas. It’s about lowering costs for families,” one official said.
The aides didn’t say whether Biden would call for a specific deficit reduction target, but they noted their belief that the budget reconciliation package would reduce the deficit. The measure is largely paid for through tax increases on corporations and wealthy individuals, prescription drug cost savings and enhanced tax enforcement.
The Congressional Budget Office does not predict revenue gains as generous as the White House does from increased IRS spending to boost tax enforcement, and, as a result, estimated the package would increase deficits by $160 billion over 10 years. Taking the Treasury Department’s more ambitious revenue estimate than tax enforcement, the White House last year produced an informal estimate that said the measure would reduce deficits by more than $100 billion in the first decade and by as much as $2 trillion in the second.