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$Tesla (TSLA.US)$ $NIO Inc (NIO.US)$ $XPeng (XPEV.US)$ $Li Auto (LI.US)$The better Reconstruction Act has been rejected by senators:
On December 19th, Democratic Senator Joe Manchin (Joe Manchin) said publicly that he did not support President Biden's "better Reconstruction Act." In the face of opposition from all Republicans and divisions within the Democratic Party, it may be difficult for the BBBA bill to pass the Senate vote.
Manchin publicly declared his opposition to the BBBA bill:
1) inflation risk and debt crisis: large tax and spending bills exacerbate inflation in the United States. The congressional budget estimates the actual cost of the bill to exceed $4.5 trillion and the national debt to more than $29 trillion.
2) the epidemic situation of COVID-19 intensified: the Omicron variant spread everywhere, and the rising rate of COVID-19 cases exceeded the peak.
3) tension in the international situation: with rising tensions with Russia and China, the United States faces more geopolitical uncertainty.
Follow-up negotiations may reduce some of the expenses:
The White House will continue to put pressure on Manchin to change his position and press ahead with the bill. Currently divided over concerns about the actual cost of the bill and the US debt crisis, and massive taxes and spending fuelling inflation, subsequent party negotiations may cut spending in some areas to reduce the fiscal deficit and amend some climate provisions.
The Biden administration will firmly promote the BBBA policy:
According to bye-bye.
On December 19th, Democratic Senator Joe Manchin (Joe Manchin) said publicly that he did not support President Biden's "better Reconstruction Act." In the face of opposition from all Republicans and divisions within the Democratic Party, it may be difficult for the BBBA bill to pass the Senate vote.
Manchin publicly declared his opposition to the BBBA bill:
1) inflation risk and debt crisis: large tax and spending bills exacerbate inflation in the United States. The congressional budget estimates the actual cost of the bill to exceed $4.5 trillion and the national debt to more than $29 trillion.
2) the epidemic situation of COVID-19 intensified: the Omicron variant spread everywhere, and the rising rate of COVID-19 cases exceeded the peak.
3) tension in the international situation: with rising tensions with Russia and China, the United States faces more geopolitical uncertainty.
Follow-up negotiations may reduce some of the expenses:
The White House will continue to put pressure on Manchin to change his position and press ahead with the bill. Currently divided over concerns about the actual cost of the bill and the US debt crisis, and massive taxes and spending fuelling inflation, subsequent party negotiations may cut spending in some areas to reduce the fiscal deficit and amend some climate provisions.
The Biden administration will firmly promote the BBBA policy:
According to bye-bye.
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