Biden and business are midterm election pair trade
20 Dec 2021 By Gina Chon Follow @GinaChon
The U.S. president handed corporate chiefs a good year – his moves to help the economy helped them too. If his power wanes after 2022's Congressional elections, Biden will struggle to wield the stick meant to follow the carrot. A weaker White House means a stronger hand for CEOs.
U.S. Senator Joe Manchin, a moderate Democrat who is key to President Joe Biden's hopes of passing a $1.75 trillion domestic investment bill, said on Dec. 19 he would not support the package.
Manchin's support is crucial in a chamber where Democrats and Republicans hold 50 seats each and Republicans are united in their opposition to the bill. The Democrats can together pass legislation through the tie-breaking vote of Kamala Harris, the U.S. vice president.
Source: REUTERS/Evelyn Hockstein
U.S. President Joe Biden speaks at the Medals of Honor ceremony in Washington, U.S., December 16, 2021.
U.S. Election