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U.S. Sen. Manchin of West Virginia clarifies Inflation Reduction Act, responds to coal reps

By Michael Lemley, WV News

WASHINGTON, D.C. — U.S. Sen. Joe Manchin, D-W.Va., held a press conference Thursday morning to clarify aspects of the Inflation Reduction Act of 2022 and respond directly to criticisms made by a group of coal industry representatives.

Manchin threw his support behind the Inflation Reduction Act last week as a compromise with Senate Majority Leader Chuck Schumer, D-N.Y.

The economic measure aims to ease the effects of record inflation in the U.S. It has provisions for investing in energy security and climate change measures and the reduction of medical costs for Medicare beneficiaries.

It would impose a minimum corporate tax of 15% for companies making $1 billion or more, call for better enforcement of tax laws and close loopholes, thus generating more than $300 billion that will go toward reducing the nation’s deficit…

To read more: https://www.wvnews.com/news/wvnews/u-s-sen-manchin-of-west-virginia-clarifies-inflation-reduction-act-responds-to-coal-reps/article_f2175bcc-142a-11ed-a3c0-dbcac297c44e.html

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