Langone said on Wednesday he plans to hold a fundraiser for Sen. Joe Manchin after the West Virginia Democrat blocked elements of President Joe Biden's offered comprehensive social spending package, which is still under discussion by congressional Democrats.
During an interview with CNBC's Squawk Box, Langone said that rising inflation will cause the public to suffer, saying it is a "regressive tax" that will hurt "the poor people hardest of all."
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"I don't see leadership in any place in this country. Thank God for Joe Manchin, by the way," Langone said.
Langone said Manchin has "guts and courage."
"I'll tell you right now, I'm going to have one of the biggest fundraisers — he's a Democrat, I'm a Republican — I'm going to have one of the biggest fundraisers I've ever had for him," Langone said. "He's special. He's precious. He's a great American."
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According to records from the nonpartisan Center for Responsive Politics, Langone has not contributed to Manchin's campaigns. However, he has contributed to some other Democrats in the past.
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Langone supported former President Donald Trump during his 2016 campaign but later said he felt "betrayed" by Trump after the deadly riot in the U.S. Capitol on Jan. 6.
"Last Wednesday was a disgrace and should never have happened in this country, and if it doesn't break every American's heart, something is wrong," Langone said on Squawk Box the week after the riot. "It breaks my heart, for sure. I didn't sign up for that."
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Manchin, who has made millions from the coal industry, has faced certain parts of Biden's $1.8 trillion social spending plan, including clean energy provisions. He has also faced raising corporate taxes above 25% and a proposed tax that would target billionaires.
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The social safety net and climate plan, known as the Build Back Better Act, would expand Medicaid and Medicare, pay for general pre-K, and donate $550 billion to actions intended to fight climate change, among other things. The House is expected to vote on the legislation this month, but the bill, already the product of several months of negotiations, will likely grow some more before the Senate takes it up.
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Democrats have a small advantage in the 50-50 Senate, due to Vice President Kamala Harris' tie-breaking vote, so they can't afford to lose Manchin's vote.
In October, Nelson Peltz, who founded the investment firm Trian Partners, told CNBC that he talks to Manchin every week and supports how he’s handling his work on Capitol Hill.
Beyond Langone and Peltz, Manchin has already seen a surge of campaign donations from corporate America as he fights his own party.
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