JUST IN: Joe Manchin has closed the door on a climate, energy and tax package, but remains open to a much smaller bill that focuses on deficit reduction, prescription drug reform, and funding for health care subsidies
Sen. Joe Manchin, D-W.Va., and Sen. Shelley Moore Capito, R-W.Va., pay respects to Hershel Woodrow Woody Williams in the United States Capitol Rotunda during a Congressional tribute ceremony on July 14, 2022.
Sen. Joe Manchin has closed the door on a climate, energy and tax package, but remains open to a much smaller bill that focuses on deficit reduction, prescription drug reform, and funding for health care subsidies, according to people familiar with the matter.Manchin’s offer will come as a bitter disappointment to the White House and his colleagues in the Senate.
And they weren't concerned about Manchin balking on raising corporate taxes, as the West Virginia senator has long talked about repealing the Trump tax cuts and bringing more "fairness" to the tax code.about pumping additional money into the economy.The apparent demise of major new and expanded clean energy and electric vehicle investments will make it exceedingly difficult for the U.S. to meet its climate change targets.
"Senator Manchin believes it's time for leaders to put political agendas aside, reevaluate and adjust to the economic realities the country faces to avoid taking steps that add fuel to the inflation fire.”Manchin informed Schumer Thursday that he was rejecting any additional money for climate spending — or any attempts to raise corporate taxes.of a two-year extension for subsidies to purchase health insurance on the Affordable Care Act exchanges.
His offer to the Democratic leader skews heavily toward deficit reduction, envisioning roughly $200 billion from the $287 billion in prescription drug savings going toward that purpose.Some House Democratic lawmakers have been sounding the alarm about raising taxes, with centrist Rep. Josh Gottheimer Gottheimer remained committed to providing money for green energy, but without raising new revenues. He also wanted to lift the cap on the state and local tax deduction.
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