Biden Concedes Delay of Multitrillion-Dollar Build Back Better Bill

President Joe Biden admitted his multitrillion-dollar Build Back Better spending bill will be delayed as he continues negotiations with Sen. Joe Manchin (D-WV).

“It takes time to finalize these agreements, prepare the legislative changes, and finish all the parliamentary and procedural steps needed to enable a Senate vote,” Biden said in a statement late Thursday.

Senate Majority Leader Chuck Schumer had set a Christmas deadline for the bill, but lawmakers concede that will not happen.

Biden said he spoke with House Speaker Nancy Pelosi and Schumer about the future of his latest expensive entitlement bill, which would continue government payments to families with young children, subsidize child care and elder care, and provide large subsidies for electric cars. The bill would also reinstate state and local tax deductions for the wealthy and expand health care subsidies.