Manchin, Schumer report abrupt deal on health, energy, taxes

In an unexpected turnabout, Senate Majority Leader Chuck Schumer and Sen. Joe Manchin announced Wednesday they had reached an expansive agreement that had eluded them for months on health care, energy and climate issues, taxes on higher earners and corporations and trimming of the federal debt.

For months, Manchin’s opposition had blocked a larger agreement sought by President Joe Biden and other Democrats, partly on grounds that he said it would fuel rather than fight inflation.

In an abrupt announcement, he and fellow Democrat Schumer said the measure would raise $739 billion over 10 years in revenue, the biggest chunk coming from a 15% corporate minimum tax.