After weeks of resistance, Sen. Joe Manchin (D-W.Va) released a statement saying he has reached an agreement with Senate Majority Leader Chuck Schumer on expansive legislation that includes action on energy and climate issues, taxing those making higher incomes and health care costs.
Sen. Manchin, a conservative Democrat in Congress, had previously said he would only agree if legislation were limited on lowering prescription drug prices and health care costs, the Associated Press reported.
As CNN reported, if the bill is cleared by the Senate parliamentarian, Democrats in the Senate might be able to get the bill approved by next week.
Sen. Manchin said in a Wednesday statement, "Rather than risking more inflation with trillions in new spending, this bill will cut the inflation taxes Americans are paying, lower the cost of health insurance and prescription drugs, and ensure our country invests in the energy security and climate change solutions we need to remain a global superpower through innovation rather than elimination,"
It was not immediately clear why Sen. Manchin pulled such an about-face on his previous staunchly held position counter to much of his party.
He continued in his statement, saying the agreement “would dedicate hundreds of billions of dollars to deficit reduction by adopting a tax policy that protects small businesses and working-class Americans while ensuring that large corporations and the ultra-wealthy pay their fair share in taxes."