New Observations:

On December 20, Democratic Party 's Senator Joe Manchin of West Virginia formally rejects President Joe Biden's Build Back Better bill. With this, the Democratic left has begun to attack Manchin.

In this regard, the White House has issued a press release stating that "Senator Manchin's comments this morning… are at odds with his discussions this week with the president", and listed specific details on it.

ANBOUND's interpretations:

1. It is certain that Biden's Build Back Better plan will not be able to realize this year, and it remains to be seen if the situation will see a reversal after the Christmas & New Year holidays.

2. Even if the situation ends without much incident, it will result in the split of the Democratic Party and at the same time cause a huge blow to the Biden administration. It is also precisely because of this that Manchin is currently facing tremendous pressure. If Manchin has determined not to change his mind in this matter, he can probably consider moving to the other party.

3. In general, the probability of the Build Back Better bill being successfully passed is still greater than the probability of its failure. That said, the probability of failure has greatly increased compared to the past.

4. It is not an exaggeration to say that the fate of the Biden administration will depend on the fate of this bill.