Senate Energy and Natural Resources Chair Joe Manchin announced a deal this afternoon on budget reconciliation legislation with climate and clean energy provisions.
The West Virginia Democrat said he penned an agreement with Majority Leader Chuck Schumer (D-N.Y.) on a legislative framework to address inflation.
“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,” Manchin said in a statement.
Manchin’s comments suggested the legislation would include incentives for clean energy technology and address methane emissions.
“It is truly all of the above, which means this bill does not arbitrarily shut off our abundant fossil fuels,” Manchin said. “It invests heavily in technologies to help us reduce our domestic methane and carbon emissions and also helps decarbonize around the world as we displace dirtier products.”
The agreement, Manchin said, includes promises from Schumer and House Speaker Nancy Pelosi (D-Calif.) to act on energy concerns.
“President Biden, Leader Schumer and Speaker Pelosi have committed to advancing a suite of commonsense permitting reforms this fall that will ensure all energy infrastructure, from transmission to pipelines and export facilities, can be efficiently and responsibly built to deliver energy safely around the country and to our allies,” said Manchin.
At a White House briefing this afternoon, spokesperson Karine Jean-Pierre fielded a question on Manchin’s announcement of the deal but had few details to offer.
“We have been very clear about the reconciliation bill, that these are negotiations that are happening in Congress,” she said, noting the provision allowing Medicare to negotiate with drug companies to lower costs. “We do believe it’s going to be part of lowering inflation.”