Finally, some positive news for President Biden and the Democrats despite the new G.D.P. report. Photograph by Bill O'Leary / The Washington Post / Getty On Wednesday, Joe Biden received some of the best news of his Presidency, with Senate Democratic leaders and Joe Manchin agreeing on the outlines of a new reconciliation bill that would reduce the cost of prescription drugs and health insurance for millions of Americans, raise taxes on major corporations, and finance the biggest set of tax incentives for green energy that the country has seen. After more than a year of wrangling and frustration, Manchin’s surprise reversal means that some important parts of Biden’s Build Back Better agenda are now likely to be enacted. Just a couple of weeks ago, the agenda seemed to be dead. The revival of big tax credits for green energy, including means-tested tax credits for the purchase of electric vehicles, is particularly notable: Democrats claim that by 2030 the new measures would reduce carbon emissions by forty per cent. Although this falls short of Biden’s original emissions goal, it would be a significant step in the right direction. —John Cassidy, from “Joe Manchin’s Latest Reversal Could Be a Game Changer” Support The New Yorker’s award-winning journalism. Subscribe today » |
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