Bloomberg Tax
July 8, 2022, 8:45 AM

Biden’s Economic Plan Races the Clock on Capitol Hill (Podcast)

Patrick Ambrosio
Patrick Ambrosio
Team Lead

The Biden administration and Democratic lawmakers are quickly running out of time to move a revamped tax, climate, and health care package before the midterm elections.

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President Joe Biden’s broad “Build Back Better” agenda stalled in December when Sen. Joe Manchin (D-W.Va.), a pivotal vote in the evenly split chamber, announced he wouldn’t support it. Senate Majority Leader Chuck Schumer (D-N.Y.) has been negotiating with Manchin about a narrower bill focused on clean energy incentives, health care, and tax hikes on corporations and the wealthy.

There have been some recent signs of progress, with tentative agreements on prescription drugs and extending the solvency of Medicare. But there are still many issues to hash out and not much time to do it.

On the latest episode of Talking Tax, Capitol Hill reporters Kaustuv Basu and Zach C. Cohen break down the state of the negotiations. They cover what’s in, what’s out, and what obstacles remain.

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To contact the reporter on this story: Patrick Ambrosio in Washington at

To contact the editor responsible for this story: Rachael Daigle at