Manchin’s Climate Reversal Comes With Major Caveat: Expanding Oil and Gas

Conservative coal baron Sen. Joe Manchin (D-West Virginia) announced on Wednesday that he has come to an agreement with Democratic leaders for a reconciliation bill with key climate, prescription drug price and tax reforms — with a major caveat to expand oil and gas exploration.

Manchin’s Climate Reversal Comes With Major Caveat: Expanding Oil and Gas

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Senate Dems reach draft deal to extend ACA premiums, lower drug costs

Also included in the Inflation Reduction Act — a bid to lower drug prices. Medicare will be allowed to negotiate the prices of some 10 pharmaceutical drugs in 2026, 15 more drugs in 2027 and 2028 and 20 more in 2029. In addition to price negotiation, the bill also imposes penalizing rebates on pharmaceutical manufacturers who hike drug costs above the rate of inflation starting next year.

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