Sproutly Provides Update Regarding Management Cease Trade Order

view original post

ABC News

Manchin appears to sink Biden agenda on climate and tax reform

Sen. Joe Manchin appears to have torpedoed a cornerstone of President Joe Biden’s economic agenda, telling Senate Democratic Leader Chuck Schumer Thursday evening that he won’t support moving forward on proposed tax hikes on wealthy Americans and corporations that would pay for a package of climate change and energy policies, at least not right away, this according to two aides familiar with the matter. Democrats were hopeful they could move on a slimmed-down version of the once-sweeping social and economic spending agenda, formerly known as Build Back Better, before they depart for a month-long August recess. Manchin had agreed to allow Medicare to negotiate prescription drug prices, potentially saving the federal government $288 billion and bringing down costs for seniors, in addition to a two-year extension of pandemic-era premium subsidies for lower income Americans enrolled in Obamacare.