See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

What tax hikes are in the Manchin-Schumer reconciliation bill?

Posted on AllSides July 29th, 2022
From The Right
Kevin Dietsch/Getty Images

Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va., unveiled the outline of a new tax, climate and health care proposal on Wednesday, a stunning reversal that marks a major breakthrough for President Biden's long-stalled economic agenda. 

The reconciliation bill — repackaged by Democrats as the Inflation Reduction Act of 2022 — would raise an estimated $739 billion over the next decade, with the revenues going toward initiatives designed to combat climate change and curb pharmaceutical prices, as well as efforts to reduce the nation's $30 trillion debt. 

It includes...

Read full story

AllSides Picks

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right