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Joe Manchin Agrees To Sweeping Legislation To Raise Taxes On Wealthy, Invest In Climate

July 27, 2022

By Kevin Robillard and Igor Bobic : huffiest – excerpt

The proposed legislation, called the “Inflation Reduction Act,” will raise taxes on the wealthy to fund investments in climate and health care.

Sen. Joe Manchin (D-W.Va.) said Wednesday he’s reached a deal with Senate Majority Leader Chuck Schumer (D-N.Y.) on a sweeping $740 billion package to increase taxes on the wealthy and invest in climate and health care while also reducing the deficit.

The agreement, now dubbed the Inflation Reduction Act, has the blessing of the White House and rescues much of the Democratic domestic policy agenda from the trash heap Manchin seemed to put it in just two weeks ago…

Final details or text of the legislation were not yet available, but Schumer and Manchin outlined the broad strokes of the agreement…(more)

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