1/ Joe Manchin abandoned negotiations with Democrats on an economic package that contained incentives to combat climate change and new taxes on the wealthy and corporations because he’s concerned about inflation. Instead, Manchin said he’s only willing to support legislation to lower prescription drugs costs and extend enhanced Affordable Care Act subsidies, suggesting that Democrats wait until September to pursue a party-line climate and tax policy. Manchin killed Biden’s Build Back Better Act seven months ago, where Democrats in the evenly divided Senate needed all 50 members to pass the economic package by simple majority under budget reconciliation rules. Manchin’s latest de facto veto of Biden’s economic agenda follows the June inflation report, which showed annual inflation running at 9.1% – the worst in more than 40 years. Manchin claimed that he’s still open to a deal, but and wants to see July’s inflation numbers before deciding, saying he “believes it’s time for leaders to put political agendas aside, reevaluate and adjust to the economic realities the country faces to avoid taking steps that add fuel to the inflation fire.” Bernie Sanders, however, accused Manchin of “intentionally sabotaging” Biden’s agenda, saying the “problem was that we continued to talk to Manchin like he was serious. He was not.” Sanders added that Manchin is a “major recipient” of fossil fuel money and that he’s received campaign donations from “25 Republican billionaires.” With climate legislation tabled, the Biden administration’s goal to cut U.S. emissions by about 50% by the end of 2030 — 101 months from this August – is now in jeopardy. The climate package’s tax credits for wind and solar power, nuclear plants, biofuels, advanced energy manufacturing, and electric vehicles, would have cut global warming causing emissions by nearly 40% by 2030. When asked about the consequences of Congress failing to act on climate change, House Budget Committee Chairman John Yarmuth replied: “We’re all going to die.” (New York Times / Washington Post / Bloomberg / Politico / NBC News / Axios / NBC News / CNN / Talking Points Memo / Washington Post)
This is a companion discussion topic for the original entry at https://whatthefuckjusthappenedtoday.com/2022/07/18/day-545/