Thursday 4 August 2022 08:55 PM Biden defends Manchin deal, loudly coughs during event from covid isolation trends now
President Joe Biden hammered opponents of the Inflation Reduction Act that Democratic leaders want to call up within days during a 'virtual' event from the White House amid his ongoing covid isolation.
'Look at the facts!' he told critics of the deal, which represents a last-ditch effort to salvage key climate and health elements of his domestic agenda.
'Despite what some folks are saying, the Inflation Reduction Act makes sure that no one earning less than $400,000 a year will pay a penny more in federal taxes, notwithstanding all these ads you see on television,' he said during a virtual event with labor and corporate leaders as well as Treasury Secretary Janet Yellen.
He was referencing vocal opposition to the deal as Democrats scramble to nail down 50 votes for it after West Virginia Sen. Joe Manchin reached agreement on the measure with Senate Majority Leader Charles Schumer. Leading Republicans have trashed it, and the Wall Street Journal editorial page has been on the warpath against it.
Republicans on the Senate Finance Committee commissioned an analysis from the nonpartisan Joint Committee on Taxation showing it would raise taxes on some people earning less than $400,000 – but Democrats pointed out the analysis did not examine the bills multitude of tax credits.
President Biden's 'very occasional cough' is improving, even as he continues to test positive for the coronavirus
That analysis forecasted that the deal's 15 per cent corporate minimum tax on very large companies would find its way down to consumers, although the bill does not actually raise taxes on that group.
Sen. Kyrsten Sinema (D-Ariz.) has yet to weigh in, although a leak Wednesday indicated she wants to strip out language to eliminate the $14 billion 'carried interest loophole' that goes after hedge funders.
At one point during Thursday's even he coughed loudly in a burst picked up by his microphone. He also sipped from a paper cup. That came after White House physician Dr. Kevin O'Connor issued a new letter saying Biden, 79, still has 'a very occasional cough' but that it is improving. He is other-wise symptom free.
But Biden tested positive for covid again on Thursday and faces another day in isolation as his diagnosis drags on.
After finally scoring some legislative wins, Biden turned up the heat
