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Manchin and Schumer Discuss New Tax Hike, Deficit Cut Proposal

  • Holdout senator open to smaller Democrat-only budget package
  • Corporate tax increases would be used to cut deficit
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Biden Lays Out Priorities in $5.8 Trillion Budget
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Key holdout Senator Joe Manchin said Tuesday he discussed a tax increase and deficit reduction bill with Senate Majority Leader Chuck Schumer as a way to reduce soaring inflation.

The West Virginia Democrat said he is open to using the fast-track budget process to bypass Republicans and ram corporate and individual tax increases through the Senate given that the GOP wants to “keep things the way they are” in the tax code. Manchin said that it would make sense to include cuts to prescription drug costs in the package, which would need the support of all 50 Senate Democrats.