Update: Build Back Better

There have been rumors that the White House is considering a change in strategy regarding the Build Back Better Act with a focus on deficit reduction to win support from Sen. Manchin (D-WV). The strategy includes keeping revenue-raising tax hikes on the wealthy and corporations as proposed in the House version of the bill and limiting spending to a few programs.  Previously, Sen. Manchin (D-WV) supported the $555 billion in climate-related tax incentives and provisions to cut the cost of prescription drugs.  The amended bill could provide almost $1 trillion in deficit reduction over a ten-year period.