On Wednesday, “Moderate” Democrat Senator Joe Manchin says Build Back Better is dead, announcing that he has instead reached a deal with Senate Majority Leader Chuck Schumer.
Well, the West Virginia Democrat will beat to his drum, and he couldn’t care less what you think about him. It’s an independent streak that has given members of his party heartburn for years.
In fact, when Manchin rejected the initial spending bill that included a deluge of cash to address global warming this caused his party to melt down. Manchin has flipped back and forth several times now on whether he will support the Democrats’ massive spending package which Republicans are labeling the “Build Back Broke” plan.’
There you go, and exactly as predicted… Energy inflation will continue as the energy transition becomes a permanent feature.
Ironically, Manchin made them change the name to “The Inflation Reduction Act,” and pushed the effective dates for all renewals past the 2024 election (where he plans to be a candidate against Gavin Newsom). It also contains a 15% minimum tax on large companies valued at $1 billion or more, as well as investment into energy–nuclear, renewable, and fossil fuels.
“I now propose and will vote for the Inflation Reduction Act of 2022. Rather than risking more inflation with trillions in new spending, this bill will cut the inflation taxes Americans are paying, lower the cost of health insurance and prescription drugs, and ensure our country invests in the energy security and climate change solutions,” Manchin stated. “President Biden, Leader Schumer and Speaker Pelosi have committed to advancing a suite of commonsense permitting reforms this fall.”
100 Percent Fedup explained it further:
Prior to this most recent flip, Manchin was adamant that he refused to endorse and vote for any bill with provisions for the climate and energy.
However, another provision that Manchin required was a reduction in prescription pill costs. This one, he appears to have secured.
Manchin’s vote is crucial in securing the passage of the budget reconciliation bill, and without him, Democrats would be able to accomplish nothing prior to the midterms.
What this new bill means is more government spending and higher taxes, generally the opposite of what one wants to see when trying to lower inflation.
But not even the “moderate” Democrats like Senator Manchin really seem to care about details like that.
This bill won’t help Democrats in 2022, but they’re in Bonzai charge mode.
Also, regarding the climate change portions, you know liberal Democrats aren’t going to like what Manchin considers a “realistic” global warming and energy policy. This deal could collapse.
Source: 100percentfedup
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