Manchin, Dems Reach Deal On Climate Legislation

Democratic leaders have reached an agreement with Senator Joe Manchin of West Virginia on a package to fund climate action, capping off a contentious battle over a bill that just a week ago seemed dead in the water, Midwest correspondent Diana Kruzman reported for Grist magazine.

Photo Insert: President Biden celebrated the agreement, confirming that he spoke with Manchin and Senate Majority Leader Chuck Schumer Wednesday.

Manchin’s office announced that he would vote for the Inflation Reduction Act of 2022, which along with instating a minimum tax on corporations and reforming prescription drug pricing, would funnel $369 billion toward tackling “energy security and climate change,” according to a summary of the bill.

The proposal claims these investments would cut carbon emissions by 40 percent by 2030, falling short of Biden’s goal to slash them by ​​at least 50 percent. The bill would not rule out additional fossil fuel infrastructure, Manchin was careful to say, while also investing in hydrogen, nuclear power, and renewable energy.

“I support a plan that will advance a realistic energy and climate policy that lowers prices today and strategically invests in the long game. As the superpower of the world, it is vital we not undermine our status by removing dependable and affordable fossil fuel energy before new technologies are ready to reliably carry the load,” he said.

Manchin’s release also notes that Congress is committed to considering “common sense permitting reforms” for energy infrastructure this fall — a possible indication that the embattled Mountain Valley Pipeline, which would carry natural gas from shale fields in West Virginia to southern Virginia and has Manchin’s support, could end up being approved.

President Biden celebrated the agreement, confirming that he spoke with Manchin and Senate Majority Leader Chuck Schumer Wednesday. The bill “will improve our energy security and tackle the climate crisis – by providing tax credits and investments for energy projects,” he said in a statement.

“This will create thousands of new jobs and help lower energy costs in the future."

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