Sen. Joe Manchin (D., W.Va.) agrees to $369 billion legislation on climate and energy programs;

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The deal, negotiated privately between Senator Manchin and Senate Majority Leader Chuck Schumer (D., N.Y.) since the start of last week.

Of that new revenue, roughly $369 billion would be spent on climate and energy programs, including tax credits for buying electric vehicles, with another $64 billion dedicated to extending healthcare subsidies for three years for some Affordable Care Act users.

The bill would dedicate the rest of the new revenue toward reducing the deficit, according to a summary provided by Messrs. Schumer and Manchin.

 Biden said he told the senators on Wednesday afternoon that he supports the agreement. The discussions were deliberately kept quiet, according to people with knowledge of the negotiations. Few lawmakers, congressional aides or Biden administration officials were aware of the talks.

“This is the action the American people have been waiting for,” Mr. Biden said in a statement.

Mr. Manchin’s comments Wednesday, made in a statement issued while he isolates with Covid-19, marked a turnabout in his position. Mr. Manchin had weeks earlier said he wouldn’t soon support legislation dealing with climate policies and raising taxes, citing inflation concerns. His stance was seen as torpedoing his party’s goal of passing a climate and tax bill before the midterm elections.

Mr. Manchin has been the critical vote for Democrats in the 50-50 Senate since Mr. Biden took office, as they have hoped to persuade him to support elements of Mr. Biden’s expansive economic agenda. His decision to announce a framework that he affirmatively supports is a breakthrough after months of efforts to persuade him to commit to various policy provisions.

The deal will still need the support of almost every other Democrat in Congress, and while some embraced it, others were more cautious, saying they needed to review the details.

Passing the agreement into law will test the ability of Mr. Schumer and House Speaker Nancy Pelosi (D., Calif.) to persuade an ideologically diverse group of lawmakers to accept a deal announced by one of the party’s most conservative members.

http://politicalprocess.net

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