WASHINGTON – Sen. Joe Manchin III, D-West Virginia, announced Wednesday that he had reached an agreement with Democratic leaders on a domestic spending package that includes climate and energy programs and tax increases, less than two weeks after abruptly dashing such hopes. deal this summer.
In a statement, Manchin, who had been the main backstop in his party on an expansive package of social, climate and fiscal policy, confirmed his support for the measure in a statement that did not detail its precise elements. But in the statement, he indicated his support for climate and energy programs, as well as some tax provisions, which he had previously suggested he could not support because of concerns about inflation.
It was unclear what had made him change his mind about the plan, which just weeks ago he had said he could not back off until he saw more economic data next month.
“Instead of risking more inflation with trillions in new spending, this bill will lower the inflation taxes Americans pay, lower the cost of health insurance and prescription drugs, and ensure that our country invests in the energy security and climate change solutions we need to remain a global superpower through innovation rather than disposal,” said Mr. Manchin in a statement.
Mr. Manchin dubbed the bill the Inflation Reduction Act of 2022, drawing a clear distinction between it and the ambitious trillion-dollar domestic policy plan that President Biden and congressional Democrats have spend most of last year working to get it approved.
“Build Back Better is dead, and instead we have an opportunity to make our country stronger by bringing Americans together,” said Mr. Manchin. “I will do everything I can to usher in a new era of compromise and common sense that will make America more energy secure, financially sound and a more united country for this generation and the next.”
Democrats had resigned themselves to passing a narrow package aimed at reducing the cost of prescription drugs and expanding Affordable Care Act subsidies before heading into the August recess, after Mr. Manchin privately told party leaders this month that he would not support any climate or tax changes. short term proposals.