Sen. Joe Manchin said Friday that an inflation report prompted him to pull support for proposed Biden administration climate change and tax reform.

Manchin said he would support prescription drug reform that would allow Medicare to negotiate lower drug prices.

The conservative Democrat from West Virginia, who had holdings in 2021 valued between $1 million and $5 million in the coal brokerage Enersystems, according to a financial disclosure statement, is refusing to support his party’s climate change proposals.

Manchin said he won’t support the proposed climate change legislation because he’s alarmed over high inflation.

In an interview with West Virginia broadcaster Hoppy Kercheval, Manchin repeated Friday that it was inflation that caused him to withdraw his support for climate change legislation.

Manchin said he asked Senate Majority Leader Chuck Schumer, D-N.Y., to wait until July inflation numbers come out before he’d consider supporting the Biden agenda on climate change and tax hikes for corporations and the wealthy.

According to The Hill, Schumer wanted to include $375 billion for climate change and energy-related provisions, but Manchin refused to vote for a reconciliation bill to get it done before Labor Day.

Manchin did express support for extending the Affordable Care Act subsidies that help keep healthcare costs lower for millions of Americans.

According to the Washington Post, many Democrats feel they might be squandering a generational opportunity to address climate change should the Washington D.C., power balance shift before it can get done.

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