nsacpi
Expects Yuge Games
I'm glad that Schumer and Manchin were able to cut this deal. It has been there for the taking for a while, but the left wing of the Democratic Party is almost as immature in its conception of politics as its counterparts on the right. Hopefully it passes with bipartisan support.
https://www.washingtonpost.com/us-p...hed-deal-with-democrats-economy-climate-bill/
Sen. Joe Manchin III (D-W.Va.) on Wednesday reached a deal with Democratic leaders on a spending package that aims to lower health-care costs, combat climate change and reduce the federal deficit, marking a massive potential breakthrough for President Biden’s long-stalled economic agenda.
The new agreement, brokered between Manchin and Senate Majority Leader Charles E. Schumer (D-N.Y.), opens the door for party lawmakers to try to advance the measure in the coming weeks. It caps off months of fierce debate, delay and acrimony, a level of infighting that some Democrats saw as detrimental to their political fate ahead of this fall’s critical elections.
Under the deal, Schumer secured Manchin’s support for roughly $433 billion in new spending, most of which is focused on climate change and clean energy production — the largest such investment in U.S. history. The Democrats coupled the spending with provisions that aim to lower health-care costs for Americans, chiefly by allowing Medicare to begin negotiating the price of select prescription drugs on behalf of seniors.
To pay for the package, Manchin and Schumer also settled on a flurry of changes to tax law that would raise $739 billion over the next decade — enough to offset the cost of the bill while securing more than $300 billion for cutting the deficit, a priority for Manchin. Democrats sourced the funds from a series of changes to tax law, including a new minimum tax on corporations and fresh investments in the Internal Revenue Service that will help it pursue tax cheats.
Taken together, the package represents more than some Democrats once thought they might win from Manchin, who repeatedly has raised fiscal concerns with his own party’s ambitions. Only two weeks earlier, the moderate from West Virginia, a coal-heavy state, signaled his opposition to new climate investments out of concern that spending increases — funded in part by tax hikes — could harm the economy and worsen inflation.
https://www.washingtonpost.com/us-p...hed-deal-with-democrats-economy-climate-bill/
Sen. Joe Manchin III (D-W.Va.) on Wednesday reached a deal with Democratic leaders on a spending package that aims to lower health-care costs, combat climate change and reduce the federal deficit, marking a massive potential breakthrough for President Biden’s long-stalled economic agenda.
The new agreement, brokered between Manchin and Senate Majority Leader Charles E. Schumer (D-N.Y.), opens the door for party lawmakers to try to advance the measure in the coming weeks. It caps off months of fierce debate, delay and acrimony, a level of infighting that some Democrats saw as detrimental to their political fate ahead of this fall’s critical elections.
Under the deal, Schumer secured Manchin’s support for roughly $433 billion in new spending, most of which is focused on climate change and clean energy production — the largest such investment in U.S. history. The Democrats coupled the spending with provisions that aim to lower health-care costs for Americans, chiefly by allowing Medicare to begin negotiating the price of select prescription drugs on behalf of seniors.
To pay for the package, Manchin and Schumer also settled on a flurry of changes to tax law that would raise $739 billion over the next decade — enough to offset the cost of the bill while securing more than $300 billion for cutting the deficit, a priority for Manchin. Democrats sourced the funds from a series of changes to tax law, including a new minimum tax on corporations and fresh investments in the Internal Revenue Service that will help it pursue tax cheats.
Taken together, the package represents more than some Democrats once thought they might win from Manchin, who repeatedly has raised fiscal concerns with his own party’s ambitions. Only two weeks earlier, the moderate from West Virginia, a coal-heavy state, signaled his opposition to new climate investments out of concern that spending increases — funded in part by tax hikes — could harm the economy and worsen inflation.
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