Schumer and Manchin Reach Deal on New Bill

The currently-unnamed bill covers energy, healthcare, and the climate.

The Inflation Reduction Act covers energy, healthcare, and the climate.

Yesterday, Senator Joe Manchin and Senate Majority Leader Chuck Schumer announced that they had reached an agreement on a new bill, named the Inflation Reduction Act of 2022, that would cover a variety of hot topics that they had been having difficulty settling on prior. The bill includes, but is not limited to, provisions related to climate change, taxes, energy concerns, and the cost of healthcare.

Manchin and Schumer said that the “revised legislative text will be submitted to the Parliamentarian for review this evening and the full Senate will consider it next week.”

“From here forward, the debate over a future reconciliation bill or any targeted legislation must focus on supporting the everyday hardworking Americans we have been elected to serve,” Manchin said in a statement. “I support the Inflation Reduction Act of 2022 because it provides a responsible path forward that is laser focused on solving our nation’s major economic, energy and climate problems. The question for my colleagues is whether they are willing to put their election politics aside and embrace the commonsense approach that the overwhelming majority of the American people support and will best serve the future of this nation.”

President Joe Biden said in a separate statement that he reviewed the bill with Manchin and Schumer, and supports its passing. “If enacted, this legislation will be historic, and I urge the Senate to move on this bill as soon as possible, and for the House to follow as well,” Biden said.

July 28, 2022

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