Schumer making last-ditch bid to pass reconciliation bill this summer

Senate Majority Leader Charles Schumer (D-N.Y.) is making a last-ditch effort to pass a budget reconciliation bill during the July and early August work period.   

Schumer and centrist Sen. Joe Manchin (D-W.Va.) have made progress on proposals to lower the cost of prescription drugs, extend Medicare’s solvency and raise taxes on some high-income earners.  

Manchin and Schumer have worked out a proposal to impose a 3.8 percent tax on individuals earning more than $400,000 and couples earning more than $500,000 from pass-through businesses and will give the legislative language to the Senate...