Senators Schumer and Manchin:
- say revised legislative text of inflation reduction act of 2022 will be submitted to parliamentarian for review on Wednesday evening; senate will consider it next week
- say bill will invest about $300 billion in deficit reduction, $369.75 billion in energy security and climate change programs
- say bill will close tax loopholes on wealthy individuals and corporations
- say bill will extend expanded affordable care act program for three years through 2025
- say they have reached agreement with Biden and Pelosi to pass comprehensive permitting reform legislation before the end of this fiscal year
Headlines via Reuters
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Package will includes
- 15% Corporate Minimum Tax $313 billion
- Prescription Drug Pricing Reform $288 billion.
- IRS Tax Enforcement $ 124 billion
- Total deficit reduction $300 Billion
Schumer:
