Biden acknowledges Build Back Better bill likely won't be passed this year

What he's saying: "Senator Manchin has reiterated his support for Build Back Better funding at the level of the framework plan I announced in September," the president said in a statement late Thursday.

• "I believe that we will bridge our differences and advance the Build Back Better plan, even in the face of fierce Republican opposition," he added.

"It takes time to finalize these agreements, prepare the legislative changes, and finish all the parliamentary and procedural steps needed to enable a Senate vote. We will advance this work together over the days and weeks ahead; Leader Schumer and I are determined to see the bill successfully on the floor as early as possible."

Worth noting: Biden also said he spoke with several senators on the need to move on "vital" voting rights legislation.

• "We must ... make progress on this as quickly as possible," he said.