July 28, 2022
D.C. News
  • Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced they reached a deal on a spending package that aims to lower health care costs, address climate change, and reduce the federal deficit. Just last week, Manchin said that he “unequivocally” wouldn’t support the climate or tax provisions of the package. The “Inflation Reduction Act of 2022” includes tax credits to speed up the development of wind, solar, hydrogen, and nuclear power; a tax credit to reduce the price of new electric vehicles; and money to address the disproportionate burden of pollution on low-income communities and communities of color. The legislation also imposes a 15-percent minimum corporate tax, which would help reduce the deficit by $300 billion. (Articles here, here, here, here, and here)