Sen. Joe Manchin at the United States Capitol on Tuesday, June 14, 2022. Sen. Joe Manchin, DW.Va., and his team told Democratic leaders on Thursday that he was unwilling to support key climate provisions and taxes in a sweeping Biden bill, according to a Democrat briefed on the conversations.
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Sen. Joe Manchin, DW.V., took to the morning talk show Sunday to talk about the Inflation Reduction Act of 2022, a revival of President Joe Biden’s Build Back Better economic bill that collapsed earlier this year.
The inflation bill, which Democrats are trying to push through reconciliation, aims to reform the tax code, cut health care spending and tackle climate change. It will invest more than $400 billion over a decade closing tax loopholes, mostly on America’s largest and wealthiest corporations. It would also reduce the deficit by $300 billion over the same ten-year period.
“It’s about fighting inflation,” Manchin told Jonathan Karl on Sunday’s ABC show “This Week.”
Manchin insisted that the bill is not a spending bill, but rather focuses on investing the money.
“We reduced $3.5 trillion in spending to $400 billion in investment without raising any taxes, we closed some loopholes, raised no taxes,” he added.
He further explained the closing of tax loopholes, which will increase taxes for some US businesses. Any tax increase could jeopardize the full Democratic support for the legislation, which it needs to go through with reconciliation — Sen. Kyrsten Sinema, DA.Z., might not support that provision.
“The only thing we’ve done is say that every corporation worth a billion dollars or more in America should pay at least 15% minimum corporate tax,” he said. on NBC’s “Meet the Press.”
“It’s not a tax hike, it’s a loophole,” he said.
Manchin also noted that an agreement between Senate Majority Leader Chuck Schumer, D-NY, and he was reached privately to avoid drama.
“We negotiated very quietly because I didn’t know if it would ever materialize,” he said. “I didn’t want to go through the drama we went through eight months ago for so long.”
Manchin added that he made a deal with Democratic leaders to support the bill in exchange for the ability to reform later.
“If I break my pledge to vote and support this bill with all my heart, there are consequences, and there are consequences on both sides,” he said on ” Meet the Press”.
Manchin also noted that the bill will particularly target energy prices in the United States by increasing production and using clean energy efficiently.
“Inflation is the biggest challenge we have in our country right now,” he said on CNN’s “State of the Union.” “If you want to lower gas prices, produce more and produce it in America.”
During his Sunday interviews, Manchin repeatedly avoided answering questions about who he supported in the upcoming elections – the 2022 midterm elections and the 2024 presidential election.
“I am not participating in any elections at this time,” he said on “State of the Union.”
He reiterated that he would work with anyone voters elect and not respond if he wanted Democrats to retain control of Congress come November.
“Whatever the voters choose,” he said on “Meet the Press.” “Whoever you send me is your representative and I respect him.”
When specifically asked if he would support Biden in re-election, he focused on Biden’s current presidency.
“Whoever’s my president is my president, and Joe Biden is my president right now,” he said on “This Week.”