$ 1 trillion tax hike … – Indy News

Sen. Joe Manchin (D‑W.Va.) told a group of climate activists and energy executives that he narrowed down the three issues open to support the amended Build Back Better Act: climate change, prescription drug prices and deficit reduction.

Why it’s important: Manchin’s personal remarks at a closed-door dinner on Monday give a clear indication that he is serious about returning to the negotiating table, but for a much smaller version of President Biden’s initial 3.5 trillion proposal, people familiar with the matter tell Axios.

His remarks at a closed-door dinner hosted by the American Clean Power Association, a trade association of the renewable energy industry, are consistent with Manchin’s conversations with Senate colleagues.

In these informal talks, he outlined an agreement that would include about $ 500 billion in climate and $ 1 trillion in new revenue.
The senator, however, did not indicate any support for the public preschool or other care-economy proposals included in Biden’s initial “human infrastructure” package.

And Manchin is pushing for the deficit to be reduced by at least half of the revenue from the new corporate tax, as well as the estimated savings of allowing Medicare to negotiate directly for the cost of prescription drugs.

Post $ 1 trillion tax hike … Popularist Press first appeared in 22 2022.