After Clash, Manchin and Schumer Rushed to Reset Climate and Tax Deal – The New York Times

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“It will require us to stick together and work long days and nights for the next 10 days,” Mr. Schumer told his colleagues, according to a Democrat in the room, who disclosed details of the private meeting on the condition of anonymity. He added: “We will need to be disciplined in our messaging and focus. It will be hard. But I believe we can get this done.”

The abrupt announcement of a deal held out the promise of a major reversal of fortune for Mr. Biden and Democrats, who had resigned themselves to the demise of the climate, energy and tax package and were preparing to push forward with a bill that would pair the prescription drug pricing measure with an extension of expanded health care subsidies.

Should the compromise hold and survive consideration by both the Senate and the House, it would allow them to enact major legislation only weeks before the midterm congressional elections to address health care costs, climate change and inflation — all while fulfilling longstanding promises to tax the rich and reduce the deficit.

But the fate of the measure remained on shaky ground.

It was not clear whether it would have the unanimous support among Democrats needed to pass. Senator Kyrsten Sinema, Democrat of Arizona and another holdout on her party’s domestic policy package, skipped the Democratic caucus meeting on Thursday and would not comment on the bill or indicate whether she planned to support it.

“She’s reviewing text and will need to review what comes out of the parliamentarian process,” a spokeswoman said.

Ms. Sinema has in the past opposed one element of the agreement: a proposal to change a preferential tax treatment for income earned by venture capitalists.

Source Article from https://www.nytimes.com/2022/07/28/us/politics/manchin-schumer-climate-tax-deal.html

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