Sen. Schumer Keen On Passing Budegt Reconciliation Bill This Summer

Senate Majority Leader Charles Schumer (D-N.Y.) is making a last-ditch effort to pass a budget reconciliation bill during the July and early August work period.   

Schumer and centrist Sen. Joe Manchin (D-W.Va.) have made progress on proposals to lower the cost of prescription drugs, extend Medicare’s solvency and raise taxes on some high-income earners. 

  • The bill would include a 3.8 percent tax on individuals earning more than $400,000 and couples earning more than $500,000 from pass-through businesses.  
  • Schumer and Manchin have not announced whether the package will include provisions to fight climate change such as clean energy manufacturing tax credits. 
  • Whether the climate piece gets done will depend largely on how many concessions Manchin will insist on for the fossil fuel industry, one source said. 

Sam Runyon, a spokesperson for Manchin, said her boss is glad that Democrats have agreed on a prescription drug proposal that they could pass with a simple-majority vote under special budget rules.  “Sen. Manchin has long advocated for proposals that would lower prescription drug costs for seniors and his support for this proposal has never been in question. He’s glad that all 50 Democrats agree,” she said. 

But the Manchin aide waved off speculation that Schumer and Manchin are close to a deal on a broader reconciliation package that would include bold proposals to tackle global warming, a top priority of Sen. Sheldon Whitehouse (D-R.I.) and other Senate Democrats.   

According The Hill, the budget reconciliation instructions will expire at the end of the fiscal year on Sept. 30, which is the drop-dead deadline. Schumer is hoping to get the bill finalized before the August recess, but it’s competing with other key measures, including a bipartisan bill to boost U.S. competitiveness with China. 

Sam Runyon, a spokesperson for Manchin, said her boss is glad that Democrats have agreed on a prescription drug proposal that they could pass with a simple-majority vote under special budget rules.  

“Sen. Manchin has long advocated for proposals that would lower prescription drug costs for seniors and his support for this proposal has never been in question. He’s glad that all 50 Democrats agree,” she said. 

But the Manchin aide waved off speculation that Schumer and Manchin are close to a deal on a broader reconciliation package that would include bold proposals to tackle global warming, a top priority of Sen. Sheldon Whitehouse (D-R.I.) and other Senate Democrats.

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