The White House said the speech will take place at 12:30 p.m. ET in the government dining room.
Schumer and Manchin announced the deal on Wednesday after more than a year of revolving negotiations. The deal is a huge reversal for Manchin, and the health and climate bill has a serious chance of becoming law as soon as August — assuming Democrats can pass the bill in the House and it passes with the senator to allow it to be approved along the lines Straight partisanship in the budget process.
The agreement contains a number of Democrats’ goals. While many details were not disclosed, the measure will invest $369 billion in energy and climate change programs, with the goal of reducing carbon emissions by 40% by 2030, according to a one-page fact sheet. For the first time, Medicare will be enabled to negotiate prices for some drugs, and it will limit out-of-pocket costs at $2,000 for those enrolled in Medicare drug plans. Enhanced benefits that expire to cover the Affordable Care Act will also be extended for three years.
On a local radio show Thursday, Manchin argued that the law should be well received by both parties, saying it does not “really” raise taxes and does not increase inflation, while creating good energy policy.
“This is a bill for the country,” Manchin said. “It’s not a Democrats bill. And it’s not a bill Republicans should care about.”
Biden spoke with Manchin and Schumer Wednesday afternoon, and said in a statement thanking them — his first contact with Manchin since December.
“This is the action the American people have been waiting for. This addresses the problems of today – rising health care costs and headline inflation – as well as investments in our energy security for the future,” he said, calling on Congress to pass it “as soon as possible.”
But in a radio interview, Manchin said he and his crew worked with Schumer and his team to draft the so-called Inflation Reduction Act of 2022, saying Biden “was not involved.”
“It was me and my crew,” Manchin told host Hobby Kircheval. “Then we worked with Schumer’s staff. My staff was driving it. We wrote the invoice. Schumer’s staff would look at it and we’d negotiate, and we worked through them.”
“President Biden was not involved,” Manchin added.
There are factors complicating the bill’s swift passage — Senate whip Dick Durbin announced Thursday that he has tested positive for Covid-19 and will be impeached. To pass the bill, Democrats will need all 50 senators to attend and vote for the bill with Vice President Kamala Harris casting a tie-breaking vote, with all Republicans expected to vote against the deal.
Senate Minority Leader Mitch McConnell criticized the deal, calling it “nonsense and bounty for wealthy coastal elites.”
“This is the bullshit that Democrats are focused on,” McConnell said. “Not helping you pump gas in your car, not helping you with your groceries. They want to use the economic crisis of the middle class they created themselves as an excuse to raise your taxes and get around the bullshit of their new green deals.”
He added, “Our colleagues across the corridor lost America’s confidence in the economy before this tax spree and reckless spending. Apparently, they now want to see how far they can go further.”
Complicating matters further is the Arizona Democratic senator. Kirsten Senema, a major moderate, has yet to weigh in on the bill. It has previously raised concerns about taxes on the transferred interest, which will raise $14 billion under the deal. The cinema was not part of the current package negotiations.
But in a closed-door meeting Thursday, Schumer privately told Democrats it was time to get a bill to tackle climate change and allow Medicare to negotiate prescription drug prices.
“Now we have a chance to pass these first two important things before the August recess,” said a Democrat inside the chamber.
“It’s going to require us to stay together and work day and night for the next 10 days. We’ll need to be disciplined in our messages and focus. It’s going to be tough. But I think we can get…this…do.”
News of the deal stunned Republicans on Wednesday. The agreement was announced shortly after the Senate passed a bill aimed at boosting US semiconductor production, legislation that McConnell threatened to block if Democrats tried to pass a climate and economic package.
When asked whether the Republican Party had played by allowing the so-called CHIPS bill to pass before cutting the Democrats’ economic deal, Republican Senator Webb John Thune told CNN: “I think everyone was certainly surprised by the representations the Democrats made on that deal, and I think That there was a certain amount of people who were shocked – not just from us but from the Democrats.”
Asked if McConnell played this right, he said, “You’ll have to talk to him about it.”
The bill — the full text of which has not been released — would also need to pass through the House of Representatives as well, where Democrats have a more substantial, but still thin, majority.
Progressive representative. Pramila Jayapal, a Democrat from Washington, called the Mansion-Schumer deal a “big step forward” and a “tremendous achievement,” expressing confidence in the deal on CNN’s “New Day.”
“Welcome, Joe Manchin, glad to work with you to make this happen,” she said.
But there are still landmines in the House of Representatives, including whether to review the caps on state and local tax cuts that a few Democrats in the Northeast have demanded.
This story has been updated with additional developments.
CNN’s Megan Vasquez contributed to this report.