Sen. Joe Manchin has said he’ll oppose an economic measure he’s been negotiating with Democratic leaders if it includes climate or energy provisions or higher taxes on the rich and corporations, delivering a stunning blow to one of the party’s top election-year priorities, reports the Associated Press.
Dem says Manchin blocking energy, tax provisions in big bill (Associated Press)
Excerpt from the Associated Press: The official said Manchin told Senate Majority Leader Chuck Schumer, D-N.Y., on Thursday that he will only support a new measure if it is limited to curbing pharmaceutical prices and extending federal subsidies for buying health care coverage. Manchin abruptly derailed his party’s bigger and wider-ranging social and environment package last December after months of negotiations and after the measure had already passed the House. Manchin’s demands leave the future of the latest measure unclear, seemingly upending the hopes of President Joe Biden and Democratic leaders’ for a more sweeping package they could push through Congress by August.
According to The Hill, The higher-than-expected inflation report will make it tougher to achieve Schumer’s goal of passing a reconciliation bill before the August recess as Manchin on Wednesday called on his colleagues to slow down and look more carefully at how the legislation might further fuel price increases.
Inflation report deals blow to Schumer-Manchin budget talks (The Hill)
Excerpt from The Hill: Manchin now says the provisions of the bill will need to be “scrubbed much better,” including a proposed 3.8 percent tax on wealthy individuals and families who earn money from pass-through businesses, a provision made public last week. In the wake of the latest inflation number, Manchin says he’s not sure if he can support a bill that includes anything beyond a proposal to give Medicare power to negotiate lower prescription drug prices.
The major shift in negotiations — confirmed by two people familiar with the matter who spoke on the condition of anonymity to describe the talks — threatened to upend the delicate process to adopt the party’s signature economic package seven months after Manchin scuttled the original, roughly $2 trillion Build Back Better Act, which President Biden had endorsed, writes The Washington Post.
Manchin says he won’t support new climate spending or tax hikes on wealthy (The Washington Post)
Excerpt from The Washington Post: "Political headlines are of no value to the millions of Americans struggling to afford groceries and gas as inflation soars to 9.1 percent," said Sam Runyon, a spokeswoman for Manchin. "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."
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