Manchin’s New Deal

28 July 2022, 11:54 AM

Axtremus

Manchin’s New Deal

https://www.politico.com/news/...nergy-taxes-00048325

Manchin's new deal with Schumer has something for the Affordable Care Act, climate change, American manufacturing and mining, and will reduce the deficit by $300 Billion.

They gave it a cute name too, “the Inflation Reduction Act of 2022.”

EDIT to add:

Looks like it will close the “carried interest” loop hole too.

Scroll down the Axios article a bit to get to a bullet point list of the major provisions included in the bill:

https://www.axios.com/2022/07/...eal-senate-democrats

28 July 2022, 12:20 PM

Piano*Dad

Yeah, and if it doesn't include dealing with SALT caps so that wealthy blue state libs get bigger deductions, expect some more controversy.

28 July 2022, 03:28 PM

jon-nyc

quote:
Originally posted by Piano*Dad:
Yeah, and if it doesn't include dealing with SALT caps so that wealthy blue state libs get bigger deductions, expect some more controversy.

https://twitter.com/mattyglesi...DKchAzbgz8wPwxN3_oGQ

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If you think looting is bad wait until I tell you about civil forfeiture.

28 July 2022, 06:02 PM

Piano*Dad

Oh c'mon. Yglesias is smarter than that. He knows the difference between the average and the mode ...

28 July 2022, 06:10 PM

Steve Miller

Meanwhile, Prime Minister Sinema is miffed because she wasn’t included in negotiations.

Heads may roll.

28 July 2022, 06:20 PM

Piano*Dad

Sinema makes for good theater ...

29 July 2022, 09:41 PM

Axtremus

https://www.cnbc.com/2022/07/2...cription-reform.html

Article above focuses on the bill's Medicare provisions:

1. Let Medicare negotiate prescription drug prices
2. Set Medicare Part-D out-of-pocket maximum to $2000

30 July 2022, 11:33 AM

wtg

Possible roadblocks:

https://www.axios.com/2022/07/...nchin-deal-democrats

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We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb

Bazootiehead-in-training

30 July 2022, 12:40 PM

Steve Miller

I’m seeing opinions that passing the bill would be inflationary. Looking at how it’s funded I don’t see it.

What am I missing?

30 July 2022, 08:46 PM

Nina

quote:
Originally posted by Piano*Dad:
Sinema makes for good theater ...

True. I wish it was just theater, but the stakes are high. She craves the spotlight, but I think her "maverick" attempt at being Arizona's new John McCain is wearing thin for everyone. She will NOT be reelected, I predict. She'll most likely be primaried.

I think she's likely to do another "thumbs down" on this just to get the headlines. She's on record as supporting everything in this bill except the closing the tax loophole. But she gets her moment in the sun (and most likely a ton of campaign money coming her way).

Our system is totally broken.

31 July 2022, 12:16 PM

wtg

Manchin goes on the Sunday morning shows to sell the bill.

https://www.politico.com/news/...senate-bill-00048826

04 August 2022, 10:13 PM

wtg

quote:
Sen. Kyrsten Sinema (D-Ariz.) said Thursday that she plans to "move forward" with a revised version of Democrats' reconciliation bill after reaching a deal to scale back some of the original tax provisions.

https://www.axios.com/2022/08/...lation-reduction-act

04 August 2022, 10:29 PM

Nina

That's great news from the Sinema camp. OK, it's not perfect but someone once said "never let perfection be the enemy of the good." Even without the carried interest tax provision... and with an enticing "beef up climate funding", it's a huge step forward.

Let's hope the Dems don't crater it with their vote-a-rama shenanigans. We know the GOP will be coming full bore.

04 August 2022, 11:14 PM

Steve Miller

That whole carried interest thing is just weird. It affects very few people and is obviously unfair.

I smell a rat.