U.S. growth in jeopardy after Manchin says he won’t vote for Build Back Better: Goldman Sachs

President Joe Biden faces the unexpected task of quickly rewriting his policy agenda in a crucial election year after a key Senate Democrat abruptly rejected his signature $1.75 trillion economic plan.

Senator Joe Manchin stunned the White House and fellow Democrats Sunday by announcing his opposition to a tax-and-spending package tailored to win his support after months of courtship by Biden and other administration officials. The move effectively torpedoes Biden’s campaign promises to address climate change, health-care costs and child-care needs.

Losing support from Manchin, a moderate from West Virginia, is essentially fatal...