Thread by @CraigCaplan

Schumer & Manchin announce an agreement to add the Inflation Reduction Act to the FY2022 Budget Reconciliation bill and vote in the Senate next week. #votearama

Schumer/Manchin: "After many months of negotiations, we have finalized legislative text that will invest approximately $300 billion in Deficit Reduction and $369.75 billion in Energy Security and Climate Change programs over the next ten years."

Schumer/Manchin: "The investments will be fully paid for by closing tax loopholes on wealthy individuals and corporations. In addition, the expanded Affordable Care Act program will be extended for three years, through 2025."

Schumer/Manchin on "Byrd Bath" review process of the reconciliation bill by Senate parliamentarian: "The revised legislative text will be submitted to the Parliamentarian for review this evening and the full Senate will consider it next week."

Schumer/Manchin on bill's energy provisions: “The Inflation Reduction Act of 2022 will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030."

Schumer/Manchin: "The bill will finally allow Medicare to negotiate for prescription drugs and lower health care costs for millions of Americans."

Schumer/Manchin conclude joint reconciliation statement: "We have reached agreement w/President Biden & Speaker Pelosi to pass comprehensive permitting reform legislation before the end of this fiscal yr. We urge every mbr of the US Senate to support this important legislation.”

Summary of the Inflation Reduction Act of 2022:
democrats.senate.gov/imo/media/doc/…

725 pages of legislative text for the Manchin-Schumer reconciliation bill agreement: democrats.senate.gov/imo/media/doc/…