Democrats Weigh Paring Biden Tax Hike to Win Over Manchin
- Discussion ongoing on reducing minimum levies for corporations
- Schumer, Manchin debating ACA subsidies, energy spending
Senator Joe Manchin and US President Joe Biden
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Senate Democrats are working on shrinking the tax increases in President Joe Biden’s economic package as part of a bid to cut a deal with Senator Joe Manchin and get it passed in the coming weeks, according to people familiar with the talks.
The changes under consideration would pare down some of the tax measures passed by the House last year, and could mean that both US corporations and wealthy households end up facing smaller tax hikes than Biden and Democrats initially envisioned, the people said.