Manchin, Schumer Announce Deal for Energy and Health Care Bill

Yesterday, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced a deal on an energy and health care bill. The deal contains a number of Democratic goals but is a major reversal for Manchin and could be signed into law as early as next month if it passes in the House. The bill includes investing $369 billion into energy and climate change programs, with the goal of reducing carbon emissions by 40% by 2030. Medicare would have the power to negotiate prices of certain medications and out-of-pocket costs would be capped at $2,000 for those enrolled in Medicare drug plans. It would also extend expiring enhanced subsidies for Affordable Care Act coverage for three years.