July 29, 2022: FY2022 Budget Reconciliation and Infrastructure Update

Policy Resolution Group Reconciliation & Infrastructure Update

July 29, 2022

FY2022 Budget Reconciliation & Infrastructure 

After weeks of negotiations, Senator Joe Manchin (D-WV) and Majority Leader Chuck Schumer (D-NY) announced that they had reached an agreement on a reconciliation package, known as the Inflation Reduction Act of 2022, that will include significant tax incentives for clean energy technologies along with modifications to the tax code meant to reduce the federal budget deficit. The bill has generally been met with praise from most parts of the Democratic caucus, especially as they had previously expected that Senator Manchin would only support a heavily scaled back healthcare focused bill. However, Sen. Kyrsten Sinema (D-AZ) has remained notably quiet on the legislation, raising concerns among some Democratic members that the bill has yet to receive the requisite votes it needs to pass the Senate. Democrats hope to expeditiously pass the legislation, but it must still undergo review by the Senate parliamentarian and move through procedural hurdles, which are further complicated by some Democratic Senators recently contracting COVID-19. The next weeks will remain critical for Democrats to push ahead and pass a signature piece of their legislative agenda. Please find below the latest edition of the Policy Resolution Group’s FY2022 Budget Reconciliation & Infrastructure Update.

Included in this newsletter are sections on:

• State of Infrastructure and Reconciliation Negotiations
• Liam Donovan’s Bottom Line
• PRG Podcasts
• Document Library

Read the full update.