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(22,791 posts)then McConnell condemns it, and now they've passed major legislation on chip manufacturing, science education, research, and a lot more.
In a joint statement, Manchin and Schumer said: The Inflation Reduction Act of 2022 will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40% by 2030.
According to a policy brief, the bill will generate $739bn through a 15% corporate minimum tax, prescription drug savings and other means. It excludes surtaxes on people making at least $10m a year, ending Democrats push to make the wealthiest Americans pay more taxes.
The proposal would invest $396bn in energy security and fighting climate change, and $64bn to bolster healthcare. Manchin also indicated that provisions to reform the permitting process for energy infrastructure, including gas pipelines, would be included in the deal.
https://www.theguardian.com/us-news/2022/jul/27/manchin-deal-democrats-schumer-reconciliation-bill-climate-health