Tuesday 2 August 2022 09:12 PM Defiant Manchin hits back at Republican 'lies' that deal would break Biden tax ... trends now
West Virginia Sen. Joe Manchin blasted back at critics of his climate and tax deal with Senate Majority Leader Charles Schumer Tuesday, slamming Republicans who used an analysis to say people earning less than $400,000 would see their taxes rise.
The centrist Democrat, who stymied party leaders' plans for a 'reconciliation' package for months before coming to the last-minute agreement, made the case to conservative viewers on Fox News, in back and forth with interviewer Harris Faulkner.
'I'm saying Americans $400,000 and below now are going to be taxed,' the host told him.
'That's wrong. That's wrong,' Manchin insisted.
'Their taxes are going to go up,' Faulkner told him.
'That's a lie. That is a pure, outright lie!' he shot back.
'That's a lie. That is a pure, outright lie,' said Sen. Joe Manchin (D-W.Va.) in tough cross talk with interviewer Harris Faulkner on Fox News
Faulkner was pointing to an analysis by the nonpartisan Joint Committee on Taxation, which was responding to a request for an analysis by Republicans on the Senate Finance Committee.
It forecasts that the bill's new 15 per cent corporate minimum tax could cause companies to pass on new taxes to consumers. But the bill does not hike taxes on people earning less than $400,000.
One key feature closes the 'carried interest loophole,' which hedge fund managers use to pay a lower tax rate than salaried workers – but that provision has yet to get a blessing from Sen. Kyrsten Sinema (D-Ariz.), who has said in the past she opposes it.
'So their taxes are not going to go up?' Faulkner pressed Manchin.
'Not at all. And you know one thing? How about the people that are going to be saving as far as on their Medicare, $288 billion, who are paying higher prices than they should?'
Manchin reached the deal with Senate Majority Leader Chuck Schumer, D-N.Y.
Senate Minority Leader Mitch McConnell (R-KY) trashed Manchin's deal and called it a tax hike
President Biden is hoping to get a boost by Senate passage of 'reconciliation' legislation, but needs support of all 50 Democrats including Kysten Sinema to get it