Sen. Joe Manchin defended Democrats' new climate and tax deal from criticisms that it will raise taxes across all income brackets and harm the economy, saying the package unveiled last week is 'all about' combating inflation.
But Republicans have condemned Democrats for the proposal, arguing it will raise taxes on Americans across all tax brackets and fails to address. Mr. Biden has pledged repeatedly not to raise taxes on families making less than $400,000, and Democrats said their plan upholds that promise.
"All the people that I know are paying 21% or more. All the even larger corporations, but some of the largest corporations of a billion dollars of value or more don't even want to pay the minimum of 15%," he said."This is a fairness in closing a loophole. So, I'm not raising any taxes." Democrats are using an expedited legislative process called budget reconciliation that allows them to pass the package through the 50-50 Senate with a simple majority. But with the narrow margins in the Senate, Democrats must have the backing of all their members in order for it to clear the upper chamber.
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