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So why is he doing it?

Because he thinks it's the right thing to do. He doesn't like that the child tax credit was being paid out to people who make a lot of money - people that are rich by West Virginia standards:

A particular target of Manchin’s frustration has been the child tax credit, which begins phasing out at a relatively high threshold, such that two-earner households making $400,000 still receive $2,000 per child.

“I have got people that are making combined 200 and 300 and more, up to 400 [thousand], saying they’re getting checks,” Manchin complained about the child tax credit earlier this month.

A fair number of his constituents probably also don't like the idea that people who are making a lot of money might be eligible to get checks from the government when they don't need the money.

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