An argument about the particulars and parameters of the massive $3.5 trillion infrastructure deal has threatened to derail the Democratic legislation, and Guy Williams, president of Gulf Coast Bank & Trust, joined Newell Normand on WWL Radio to discuss the standoff.
Williams said West Virginia Senator Joe Manchin is a major lynchpin holding the bill back because he doesn’t approve of how the included climate initiatives will affect his home state.
“In the bill is a provision to reward utilities for decarbonizing and penalize utilities that aren’t doing it rapidly enough,” Williams said. “West Virginia of course is a coal state, and he’s violently opposed to that. He’s said he won’t vote for the bill if that provision is in it.
“The environmental group, that is the majority of the party, is radically in favor of it and says they won’t vote for it if it’s out.”
Williams said the other part of Manchin’s argument is over the numbers.
“Manchin is concerned about deficits,” Williams said. “He’s concerned about adding too much in the way of long-time entitlements.”
Williams said Manchin is taking a stand against what he considers to be “phony accounting” to make the bill fit within the monetary limitations that were already set by Congress.
