Sen. Joe Manchin flip-flops on economy, climate bill

It only took two weeks for Sen. Joe Manchin (D-WV) to change his mind on how he will vote for the Inflation Reduction Act. Manchin said in a press release he is now voting for an energy and healthcare package after further discussions with Senate Majority Leader Chuck Schumer (D-NY).

Details of the full spending of the bill have not been disclosed but a summary of the bill gives us a clue of spending agendas. $369 billion would go toward energy and climate change programs. $64 billion would extend the Affordable Care Act. The bill also contains a tax hike on largest corporations to pay at least 15 percent. The revenue gained from the tax hike would go back into funding for the bill.

Manchin released a statement regarding his decision to vote for the bill.

“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 said. “President Biden, Leader Schumer and Speaker Pelosi have committed to advancing a suite of common sense permitting reforms this fall.”

President Biden has also released a statement regarding the news of Manchin’s vote reversal decision. Biden said this is the action the American people have been waiting for. He said it will address the problems of today, high health care costs and overall inflation, as well as investments in our energy security for the future.

Following Manchin’s announcement that he is all in for Build Back Better, Senate Minority Leader Mitch McConnell (R-KY) took to social media to express his opposition.

“Democrats have already crushed American families with historic inflation,” McConnell said on Twitter. “Now they want to pile on giant tax hikes that will hammer workers and kill many thousands of American jobs. First they killed your family’s budget. Now they want to kill your job too.”

If the bill is passed, it would be considered a huge win for Democrats and something to tout ahead of midterms. But first, the bill has to pass. In a split Senate, it would only take one Democrat to hold up the bill. Congress is set to go on recess in one week so a vote could be around the corner.  But no vote is scheduled at this time.