Joe Manchin and Chuck Schumer Have a Surprise for You

Source: The American Prospect
by David Dayen

“Five years ago today, the late John McCain strode onto the Senate floor and delivered a thumbs-down to the Republican repeal of Obamacare, a white whale they had been pursuing since well before obtaining a governing trifecta. The legislative agenda in the Trump years narrowed to a historically unpopular tax cut and deregulation. One year ago today, Chuck Schumer and Joe Manchin signed a secret deal to deliver a $1.5 trillion reconciliation bill that would include ‘no additional handouts or transfer payments’ on any health or family care policies, and investments in ‘fuel neutral’ energy, with carbon-capture technologies mandated for fossil fuel infrastructure, a zero-emission vehicle credit that included hydrogen fuel cell cars, with parity for both renewable and fossil fuel tax credits. Among the measures to help pay for it were a corporate minimum tax of 15 percent and an end to the carried interest loophole.” (07/28/22)