HomeNewsBuild Back Better Now Identifies As 'The Inflation Reduction Act', Manchin Pulls...

Build Back Better Now Identifies As ‘The Inflation Reduction Act’, Manchin Pulls A Fast One

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Looks like the Dems are at it again with Joe Biden’s failed Build Back “Broke” Bill that Senator Joe Manchin (WV-D) single-handily killed when he refused to give it his support last December arguing that the Bill could send inflation even higher.

Manchin, however, may have just revived the bill with new pronouns now identifying as “The Inflation Reduction Act of 2022” claiming he and Chuck Schumer (NY-D) were able to work out a deal.

Rep. Marjorie Taylor Greene (GA-R), however, was quick to point out on Wednesday that it’s pretty much the same thing, just a different name.

Same bill, different pitch. MTG said “The Inflation Reduction Act of 2022 sounds a lot like Build Back Better in drag” and she’s right.

We’re not sure who exactly got to Senator Manchin, but the Inflation Reduction Act bill looks just as disastrous as Biden’s Build Back Better Bill. Here are the key facts according to Forbes.com.

  • Manchin championed the bill as “laser-focused on solving our nation’s major economic, energy and climate problems,” by spending $369 billion on energy and combating climate change while also reducing the deficit by more than $300 billion over the next decade.
  • Manchin noted the bill does not, however, “arbitrarily shut off our abundant fossil fuels.”
  • The bill would also extend until 2025 a set of Affordable Care Act health insurance subsidies that were set to expire this year, according to Manchin and Schumer.
  • The bill proposes more than $700 billion in new revenue, primarily through a 15% minimum corporate tax on large businesses, reforms to prescription drug pricing and enhanced Internal Revenue Service enforcement measures.
  • Democrats say the bill would reduce carbon emissions by around 40% by 2030, cap out-of-pocket drug costs at $2,000 for Americans on Medicare and not raise taxes on families making $400,000 or less a year.

What happens next, and is it likely to go through?

Democrats intend to pass the bill through the budget reconciliation process, which does not require the 10 Republican votes normally needed to overcome the Senate filibuster as long as all 50 Democrats vote “yes.” President Joe Biden said in a statement Wednesday he supports the bill, and encouraged the Senate to move on it “as soon as possible.”

But not so fast Dems, you still need Sinema on board, and according to those who follow Sinema already knows that the Democrat from Arizona said she wouldn’t vote to raise taxes under any circumstances, suggesting that the bill is dead on arrival.

Biden and top Democrats in Congress pushed last year for the sweeping Build Back Better social spending bill, a package of climate, healthcare, and social safety-net programs with an initial $3.5 trillion price tag. The price was eventually whittled down to about $1.8 trillion, but Manchin and fellow centrist Sen. Kyrsten Sinema (D-Ariz.) continued to oppose the bill over concerns it would lead to even higher rates of inflation.

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