WASHINGTON (AP) — In an unexpected turnabout, Senate Majority Leader Chuck Schumer and Sen. Joe Manchin announced Wednesday they had reached an expansive agreement that had eluded them for months on health care, energy and climate issues, taxes on higher earners and corporations and trimming of the federal debt.
For months, Manchin’s opposition had blocked a larger agreement sought by President Joe Biden and other Democrats, partly on grounds that he said it would fuel rather than fight inflation.
In an abrupt announcement, he and fellow Democrat Schumer said the measure would raise $739 billion over 10 years in revenue, the biggest chunk coming from a 15% corporate minimum tax.
It would spend $369 billion on energy and climate initiatives and $64 billion to extend expiring federal subsidies for people buying health insurance. That would leave over $300 billion to reduce federal deficits over the decade.
The Senate will consider the sweeping package next week, said Schumer, D-N.Y., and Manchin, D-W.Va., who had negotiated for months and had seemed deadlocked over anything but a far smaller measure.
The announcement suddenly presented President Joe Biden and Democrats with the prospect of pushing a major achievement through Congress in the runup to November congressional elections in which Republicans have seemed strongly positioned to capture House control and possibly a majority of the Senate as well.
Tellingly, Democrats were calling the measure “The Inflation Reduction Act of 2022.” Polls show that inflation, as embodied by gasoline prices that surpassed $5 per gallon before easing, have been voters’ chief concern. For months, Manchin’s opposition to proposed, larger packages has been premised in part on his worry that it would fuel inflation.
Manchin’s resistance had long derailed broad legislation on the proposal’s issues.
Manchin, one of the most conservative Democrats in Congress, just last week said he would only agree to far more limited legislation curbing prescription drug costs and extending federal subsidies for health care costs.
He said he was open to considering a broader compromise on environment and tax issues after Congress returned from a summer recess in September, an offer that many Democrats thought dubious.
There was no immediate explanation why Manchin had suddenly agreed to the far broader package. In December, his resistance derailed a wide-ranging $3.5 trillion, 10-year social and environment bill that was Biden’s top domestic priority.
In his statement, Manchin said the new measure “would dedicate hundreds of billions of dollars to deficit reduction by adopting a tax policy that protects small businesses and working-class Americans while ensuring that large corporations and the ultra-wealthy pay their fair share in taxes.”
© 2022 The Canadian Press. All rights reserved.
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Had to show his true Democrat colors.
“15% corporate minimum tax” – corporations don’t pay taxes, it is passed down to the consumers.
“$300 billion to reduce federal deficits” – borrowing $300 Billion does NOT reduce the federal deficit.
Democrats were calling the measure “The Inflation Reduction Act of 2022.” – Another LIE, Con, deception.
The treachery of the treasonous, socialist Democrat Party know no bounds.
Wonder if we could ever get the democrats to explain to the people of this nation how they managed to get all those trillion dollar spending bills passed, and now are talking about these added billion dollar taxes they think will be collected,is going to reduce our national debt. It takes a whole lot of billions to get to a trillion.
I laughed when biden said “this would lower medical costs’.
BUT WASN’T that the same damn lie they pushed, with the so-called affordable care act?
reminds me of the demoncrat from nebraska who was paid off to vote for obama care.
the nebraska kick back!
I assume that BOTH Joes got the customary 10% back in their own pockets. Manchin knows that raising corporate taxes 15% across the board just gets passed on the the consumer who buys their products, which just adds back to the price of more inflation. Follow the money, someone is getting richer and it is a politician, not THE PEOPLE. Obviously the Biden crime family Godfather made Manchin an offer he could not refuse. May they all sleep with the fishes.
I used to have hopes for manchen.. NOW HE’s shown he’s just another flip flopping commucrat.
The people of WVA Need to KICK HIM OUT.
There is some thing called the “Art of Negotiation as well as Comprise” where you never except the 1st. Offer you get, I imagine Schumer eventually made him an Offer he couldn’t Refuse”! Politicians are basically Liars, Cheaters, Thieves and Charlatans and can be Bought and Sold for Bag containing 30 Pieces of Silver. Maybe Manchin will retire and get a Job As A Lobbyist making much more money but he will probably have to move from West Virginia for Safety’s Sake! Bottom Line: There is No Such Thing as a Good Democrat……Period!
once a democRAT always a democRAT west virginia should fire his a$$
big smile joe, your political carreer is over
Nah. I think not. But I do wish.
The Democrats are Communists in Progressive clothing.
Joe Manchin waited until he was sure that there was no way he could be tossed out of office. Then he showed his true colors that he is a Progressive/Tax&Spend/Socialist Liberal.
West VA, when are you going to wake up and throw this guy out of office. He does not represent your values.
THIS IS why i’ve kept saying, EVERY STATE NEEDS To have the option to RECALL ANY SITTING congressman or senator..
PERIOD!
Joey Manchin , is ALL BLOW and No ! Show. Manchin is One the Democratic Commies and he falls under the Bus when they tell him. Like Y’all say A Commie always a Commie ! Lol !
Senator Joe Manchin, What in GOD NAME made you change your vote? I hope you did not believe the lies that can out of Schumer’s mouth, he is as trustworthy as JOE BIDEN AND THAT IS SAYING ALOT. It`s too bad you had to cut your political future by joining these scum democRATS Because all they do is destroy this country. They are all traitors to this country and now you have added your name, What a shame.
Good he didn’t switch to the Republican Party. We don’t need more Rinos, let him remain a Dino forever.
I was like you, wanting him to shift over to the republicans. BUT HE JUST SHOWED he would be as bad for us as cretins like Mccain, and Romney.
Really disappointed in Manchin, but I guess not surprised. The dems finally got to him; likely made him a deal he couldn’t refuse.
He held out longer than I thought. They finally hit on a price where he was willing to sell his soul and his country for money, votes and/or power. There is no unit of measure any lower than this.
They will never learn. This guy cannot be trusted. His timing is what bothers me. Rest assured it’s political.
MANCHIN ! Is a COWARD to say the least. He goes along with Everything that the Pretending President and his PARASITES in the FAKE Administration does. Bend over Y’all love it until the End. Manchin does It.
Democrats have always been for higher taxes and more and more spending to tax and spend our us into prosperity, Right! Oh, I guess no one making under $400,000 will see their taxes increase, but the corporations will pass their “fair share” to us the consumers. Another hit in our pocketbooks compliments of the irresponsible politicians, the democrats and republicans that join them. Ituser is right on about recalling their sorry backsides. Man caused climate change is the biggest batch of bovine scatology ever. This bill won’t do anything for the earth’s climate.
Who cares, maybe in the end it will help sink the Democrat’s Titanic even faster.
Who cares?? EVERYONES KIDS Who will be saddled with the national debt burden this will create, WILL CARE>
Somebody paid him. Typical politician. Piece of shoot.
really sorry to see this guy give in to the commies-
I had hoped he would be a main stopping force to keep the democrats from getting even whackier bills passed –
was hoping he would steady the ship till midterms -now there is no telling how much more damage he could inflict
before we get the chance to bring america back on it’s original course as the greatest nation on earth-
Check the bill and see how much he brought back to his state. Sold out the USA for himself.
So the only one to stand up to this boondoggle was our Senator Cinema from Arizona. Sell outs, one and all.
This article FAILS to inform readers that Manchin is happily engaging in QUID PRO QUO with our ILLEGITIMATE GOVERNMENT by selling his soul for an EXPEDITED NATURAL GAS PIPELINE for his beloved West Virginia!! So much for Creepy Joe’s climate agenda. The shelved for no reason Keystone Pipeline should file suit for being shut down by the FILTHY CAREER THIEVES RUNNING OUR COUNTRY! It appears that one can only receive backing or outright approval from the Loonies on the left of pipelines based on the mandatory condition of GIVING THE LOONIES SOMETHING WORTH FAR MORE THAN THEIR ALLEGED CLIMATE AGENDA AND THEY DON’T CARE HOW THEY GET IT!