‘They Need a Win’: Tapper Says Dems are Desperate For an Achievement as News Breaks Manchin Agrees to Deal on Key Issues
CNN’s Jake Tapper reacted to news Sen. Joe Manchin (D-WV) has reached a deal with Senate Majority Leader Chuck Schumer (D-NY) on advancing a piece of the Democratic Party’s stalled agenda ahead of the midterms.
Tapper said the news is very welcome for Democrats without a marquee legislative win this calendar year.
Manchin has been hesitant to sign on to legislation on climate change and the social safety net, citing concerns about inflation and spending.
Wednesday afternoon, he announced he would support a $670 billion package to lower emissions, reduce the federal deficit, and lower health care and prescription drug costs.
Manchin’s office said:
Today, U.S. Senator Joe Manchin (D-WV) announced he has reached an agreement with Senate Majority Leader Chuck Schumer (D-NY) to vote on the Inflation Reduction Act of 2022. The Inflation Reduction Act of 2022 will address record inflation by paying down our national debt, lowering energy costs and lowering healthcare costs.
“We must be honest about the economic reality America now faces if we want to avoid fanning the flames of inflation,” Manchin said in a statement. “At its core, the purpose of reconciliation is to get our economic and financial house in order. Contrary to foolish talk otherwise, America cannot spend its way out of debt or out of inflation.”
“I strongly support the passage of commonsense policies that reduce inflation and focus on the major challenges confronting America today and in the future,” Manchin added.
Democrats will raise revenues for the legislation by imposing a 15 percent corporate minimum tax, increasing IRS enforcement, reducing drug prices and closing the so-called carried interest loophole.
Notably, the legislation also extends the Affordable Care Act subsidies through the 2024 election and the first term of Joe Biden’s presidency, taking a big political headache off the table for Democrats.
On Wednesday’s The Lead, Tapper reacted to the news as it broke.
“There is some reason for hope on some Democratic achievement, because Democrats, they need a win,” he said. “They might have one in the pipeline. Moderate Democratic Sen. Joe Manchin says he has a deal with Democratic Leader Schumer on an energy and health care bill in addition to an agreement on taxes.”
Watch above, via CNN.
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