Well, one, I relearned the lesson in Washington, which is never say die.
When it looks like a deal is done, it’s over, there’s no movement, sometimes something happens, as we’ve seen this week. And suddenly you realize that these people met behind closed doors and they made a deal.
And the fact that Senator Manchin, who killed the – who killed what was called Build Back Manchin and said, I’m done, we’re not going to do this, the president was going to go his own way, so that we were talking about a week ago, Senator Manchin was the one who announced what has been renamed the Inflation Reduction Act of 2022.
And he said Build Back Better is dead. But there are climatic provisions. There is a pharmacare plan there. There is the 15% minimum corporate tax there. There are all kinds of clean energy incentives, rebates, and other things. So it’s not about building back better. It’s not the big, transformative bill the president wanted at the start of his term.
But in the grand scheme of things, it’s definitely better than nothing.
Now, you asked me, what are his prospects? The outlook is currently uncertain. We also focused so much on Senator Manchin that we forgot that in the Senate there is another senator we haven’t heard of, and that’s Senator Kyrsten Sinema from Arizona. And she always keeps her cards very close to the vest. We don’t know if she supports this.
And that’s imperative and important, because Democrats will need all 50 votes, plus the vice president, to get it through the Senate and into the House. And that’s a whole other problem.