Schumer, Manchin announce deal on reconciliation bill with tax, climate, energy provisions

Schumer, Manchin announce deal on reconciliation bill with tax, climate, energy provisions

"KEY POINTS

• Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., announced that they have struck a deal on legislation that aims to reform the tax code, fight climate change and cut health-care costs.
• The reconciliation bill would invest more than $400 billion over 10 years, to be fully paid for by closing tax loopholes on the richest Americans and corporations, the senators said.
• It would reduce deficits by $300 billion over that decade, the senators said, citing estimates from nonpartisan congressional tax and budget offices..."