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“We must be honest about the economic reality America now faces if we want to avoid fanning the flames of inflation,” he reiterated in a statement last night. The unexpected reconciliation announcement on Wednesday came less than two weeks after Manchin, who holds the swing vote in the 50-50 Senate, ended negotiations on climate provisions until he could get more details on the nation’s inflation data for July. “It fights the climate crisis with the urgency the situation demands…, all while creating new good-paying jobs,” he tweeted. Schumer tweeted last night that the bill will be the greatest pro-climate legislation ever passed by Congress.
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“This addresses the problems of today - high healthcare costs and overall inflation - as well as investments in our energy security for the future.” “This is the action the American people have been waiting for,” Biden said. The massive 725-page proposal also would invest hundreds of billions of dollars in healthcare, prescription drug, and tax policies. “This will create thousands of new jobs and help lower energy costs in the future.” “We will improve our energy security and tackle the climate crisis by providing tax credits and investments for energy projects,” Biden said in a statement issued last night. Joe Manchin (D-WV) on Wednesday proposed the bipartisan Inflation Reduction Act of 2022, which would provide $369 billion for climate and clean energy provisions, and reduce the country’s carbon emissions by roughly 40 percent by 2030, according to a bill summary released by the lawmakers. Senate Majority Leader Chuck Schumer (D-NY) and U.S. “This is an 11th-hour reprieve for climate action and clean energy jobs, and America’s biggest legislative moment for climate and energy policy.” “The entire clean energy industry just breathed an enormous sigh of relief,” said American Clean Power CEO Heather Zichal. President Joe Biden, numerous congressional lawmakers, and stakeholders across the power industry applauded a newly reached, long-anticipated reconciliation package that includes hundreds of billions of dollars to tackle climate change and advance clean energy programs.