What happened
Democrats pushed to bring their $433 billion climate, taxation, and health-care bill to the Senate floor this week, after a stunning turnaround by centrist Sen. Joe Manchin (D-W.Va.) brought the seemingly dead package back to life. The bill, a key piece of President Biden’s domestic agenda and the most ambitious federal climate legislation ever, appeared to hit a dead end just two weeks ago after Manchin, a crucial vote in the evenly divided Senate, said he wouldn’t support it for fear it would worsen inflation. But he and Senate Majority Leader Charles Schumer quietly resumed talks, and after inflation-hawk economist Larry Summers and corporate leaders told Manchin they supported a revised bill, Democrats announced agreement on a package, now dubbed the Inflation Reduction Act.
The bill contains…
