In an turnaround, Sen. Joe Manchin agreed to support an energy, healthcare and tax package, dubbed the Inflation Reduction Act, that could revive President Biden’s economic and climate agenda WSJWhatsNow
, negotiated privately between Messrs.
Manchin and Senate Majority Leader Chuck Schumer since the start of last week, would raise roughly $739 billion, with much of the revenue coming from a 15% corporate minimum tax and enhanced tax enforcement efforts at the Internal Revenue Service, as well as projected savings from allowing Medicare to negotiate some prescription-drug prices.
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