Manchin says he won’t support new climate spending or tax hikes on wealthy

Sen. Joe Manchin III (D-W.Va.) told Democratic leaders Thursday he would not support an economic package this month that contains new spending on climate change or new tax increases targeting wealthy individuals and corporations, marking a massive setback for party lawmakers who had hoped to advance a central element of their agenda before the midterm elections this fall.

The major shift in negotiations — confirmed by two people familiar with the matter who spoke on the condition of anonymity to describe the talks — threatened to upend the delicate process to adopt the party’s signature economic package seven months after Manchin scuttled the original, roughly $2 trillion Build Back Better Act, which President Biden had endorsed.

But Manchin told Democratic leaders he is open to provisions that aim to lower prescription drug costs for seniors, the two people said.