Joe Manchin was in.
Then he was out.
Then he was back in.
Then, suddenly and maddeningly, he was out again.
And now, just as unexpectedly, he says he’s in. For real this time. (Unless of course he has yet another change of heart.)
So it looks like Joe Manchin has finally agreed to stand with his fellow Democrats and support a slew of major reforms from the proposal once known as Build Back Better.
And while it’s true that this package has been whittled down again and again, contains some infuriating carveouts, and includes some harmful pro-fossil fuel measures — all largely in attempts to satisfy Manchin, who kept moving his own goalposts — it would *still* be one of the most progressive set of reforms in recent times.
This new legislation, the Inflation Reduction Act of 2022, would:
- Invest $369 billion in climate and energy proposals — making it the most substantial step Congress has ever taken to confront climate change.
- Devote $64 billion to lower Affordable Care Act premiums for millions of Americans.
- Save $288 billion on drug spending — including by giving Medicare the ability, at last, to negotiate prices for some prescription medicines.
- Generate $313 billion in revenue through a 15% minimum tax on multinational corporations.
- Raise another $138 billion in revenue by increasing IRS enforcement against bazillionaires and Big Business and by closing a tax loophole exploited by venture capitalists and private equity firms.
Let’s get these critical reforms enacted without any further delay.
Join Public Citizen in urging Congress to pass the Inflation Reduction Act of 2022 as quickly as possible.
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For progress,
- Robert Weissman, President of Public Citizen
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