Manchin does U-turn on Democratic tax-and-spend bill

Source: The Guardian [UK]

“Senator Joe Manchin, the West Virginia Democrat infamous for thwarting his own party’s most ambitious policy goals, announced he has signed on to a domestic policy bill that would [pretend to] pay down the national debt, [pretend to] lower healthcare costs and [pretend to] address the climate crisis [sic]. After reaching a deal with the Senate majority leader, Chuck Schumer, Manchin said the new policy package was called the Inflation Reduction Act of 2022 and included ‘realistic energy and climate policy.’ The development comes almost two weeks after Manchin had appeared essentially to kill off flagship climate action legislation when he came out against raising taxes on wealthy Americans and refused to support more funding for climate action. … According to a policy brief, the bill will generate $739bn through a 15% corporate minimum tax, prescription drug savings and other means.” (07/27/22)