What Joe Manchin wants the Home Policy Bill to look like – .

What Joe Manchin wants the Home Policy Bill to look like – .

Mr Manchin has called for more tax increases than many in his party, focusing on generating the money needed to fully pay the regime.

Most notably, while Senator Kyrsten Sinema of Arizona, another obstacle to the bill, has so far resisted the scale of tax increases proposed by the Biden administration, Mr Manchin has openly called reverse many of the tax cuts adopted by Republicans in 2017..

In his memo this summer, Manchin described a series of tax increases, including increasing the corporate tax rate to 25% from 21%, increasing the personal income rate from 37%. % to 39.6% and the increase in the capital gains tax rate to 28%. .

In recent days, it has become clear that a draft clean electricity program to replace coal and gas-fired power plants with solar, nuclear and wind power will most likely be pulled from the package due to opposition. by M. Manchin.

Instead, White House officials and congressional staff are rallying around a possible tax on carbon dioxide pollution or a voluntary version of a cap-and-trade program for create a market where polluters can buy and sell allowances for a certain amount of emissions.

They also plan to add to the $ 300 billion in tax incentives and clean energy credits that are left in the bill, while looking for ways to save parts of the clean electricity program. Mr Manchin has previously said he is open to such taxes and tax credits, provided fossil fuel tax credits are not repealed.

“We want to make sure we have reliable power,” he told reporters. “We have fundamentally cleaned up the environment more than at any time in the history of this world. “


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