Post by trueblue on Jul 28, 2022 18:02:57 GMT
'How Kyrsten Sinema Could Deal a Blow to Manchin-Schumer Inflation Bill'
'Congressional Democrats' newly revived domestic spending package again faces uncertainty as the revamped legislation seeks to close tax loopholes supported by key party moderates.
Democratic Senator Joe Manchin on Wednesday said he had struck a deal with Senate Majority Leader Chuck Schumer of New York on a bill that includes money for health care and climate change. The West Virginia moderate has been a key holdout as the bill was slimmed during months of negotiations. But Democrats' tight margins in Congress mean Arizona Senator Kyrsten Sinema and a group of House moderates could sink the bill to preserve tax provisions that critics say favor wealthy households.
Dubbed the Inflation Reduction Act of 2022, the legislation dedicates $369 billion for climate and energy spending, while seeking to reduce the federal deficit by $300 billion and cutting federal spending on prescription drugs by $288 billion, according to a summary. The bill also contains provisions to expedite domestic energy production and allow Medicare to negotiate with pharmaceutical companies over prescription drugs.'
Democratic Senator Joe Manchin on Wednesday said he had struck a deal with Senate Majority Leader Chuck Schumer of New York on a bill that includes money for health care and climate change. The West Virginia moderate has been a key holdout as the bill was slimmed during months of negotiations. But Democrats' tight margins in Congress mean Arizona Senator Kyrsten Sinema and a group of House moderates could sink the bill to preserve tax provisions that critics say favor wealthy households.
Dubbed the Inflation Reduction Act of 2022, the legislation dedicates $369 billion for climate and energy spending, while seeking to reduce the federal deficit by $300 billion and cutting federal spending on prescription drugs by $288 billion, according to a summary. The bill also contains provisions to expedite domestic energy production and allow Medicare to negotiate with pharmaceutical companies over prescription drugs.'