Manchin makes his deal but what will Kyrsten Sinema do?
NBCJUL 2022
Manchin, Schumer Announce Inflation Reduction Act
Image copyright: Anna Moneymaker/Staff/Getty Images News via Getty Images
The Spin
Democratic narrative
While it's too soon to celebrate, this is promising news. The bill goes much further than anticipated: not only would it lower prescription drug prices and extend ACA subsidies, but it would also cut the deficit and make significant reductions in greenhouse gas emissions. This is potentially a huge win.
Republican narrative
The proposed legislation is a political death wish. Raising taxes during the current economic turmoil is a dangerous policy, and Democrats are irresponsibly using reconciliation to bypass any discussion of alternative energy sources - ensuring the continued gas inflation that hurts so many Americans.