Manchin and Schumer cut abrupt deal to hike taxes and spend on environment | New York Post
http://youtu.be/Sm1nABQ4zjw
In an unexpected turn Wednesday, Sen. Joe Manchin and Majority Leader Chuck Schumer came to an agreement on legislation that would spend big on energy and climate issues while taxing higher earners and large corporations.
Manchin, a West Virginia Democrat, had been a holdout on the legislation, which would also address health care costs and aim at reducing the federal debt, before he made a sudden turnaround.
In a statement, he said he now supported the legislation called the Inflation Reduction Act of 2022 because “it provides a responsible path forward that is laser-focused on solving our nation’s major economic, energy and climate problems”
The plan would spend $369 billion on energy and climate initiatives and $64 billion to extend expiring federal subsi...
