Stephen Colbert
On Thursday’s Late Show, Stephen Colbert recapped the legislative bombshell that shocked Washington: Joe Manchin, the centrist Democrat who has repeatedly thwarted the Biden administration’s efforts to pass the Build Back Better plan, announced on Wednesday that he would support a bill to address the climate crisis.
The $369bn package aiming to reduce US carbon emissions by 40% by 2030, part of a larger measure known as the Inflation Reduction Act, pays for itself with a 15% corporate minimum tax rate on billion-dollar companies or larger and funding to beef up tax enforcement for the wealthiest Americans. “Finally, the mega-rich will have to pay any taxes at all,” said Colbert. “It’s got Elon Musk so scared, he is as white as a ghost.”
Biden celebrated the new bill in a statement: “This is the action the American people have been waiting for.”
“Technically, sir, technically – that was Top Gun: Maverick,” Colbert corrected. “Cruise has still got it.”
Manchin’s support for the bill is a marked departure from his holdout positions even days earlier. “So what happened?” Colbert wondered. “Turns out Manchin was visited by the ghost of climate future.”
In a statement, Manchin tried to distance himself from the Build Back Better name. “Build Back Better is dead, and instead we have the opportunity to make our country stronger by bringing Americans together,” he said. “Yes, Build Back Better is dead,” Colbert mocked. “Instead, Manchin’s going to … construct again, things more good.
“With a little more hope for our planet, we can now rest easy and freak out about the economy,” Colbert added, amid news that the economy shrank for the second quarter in a row, raising fears that the US could enter a recession.
That’s on top of record inflation, which has hit even the bacon, egg and cheese. The price of the beloved New York bodega staple has increased from $2.50 to $4.50 – “which is a tough blow to city consumers,” said Colbert, because the sandwich, a diet staple, has “all the essential food groups: bacon, foil and yellow”.
Trevor Noah
Joe Manchin agreeing to vote for this bill is a huge win for Democrats. But it's the Democrats so there's still plenty of ways this can go wrong. pic.twitter.com/zLFYqGWSbF
— The Daily Show (@TheDailyShow) July 29, 2022
“I can’t believe it. Joe Manchin agreed to vote for a bill? Which means Democrats might actually get something done?” Noah marveled on the Daily Show. “Am I dreaming? And if so, what a boring dream.
“What a week for Joe Biden – first he defeated Covid, then he defeated low expectations. Look at you, Joe!” he exclaimed.
Noah also joked that Manchin insisted on calling the measure the Inflation Reduction Act. “I’ll be honest, I don’t think anyone cares what it’s called as long as it’s a good bill,” he said. “He could call it the ‘Everyone Except Joe Manchin Has a Small Dick Act,’ and I don’t care. I’ll be like, ‘OK well, at least my dick is going to see a better climate!’
“I think this has taught us all an important message,” Noah continued. “Everyone was so mad at Joe Manchin, calling him names, letting their anger take over, writing him off as a villain. And it worked. Nice job, everyone, nice work.”
The Inflation Reduction Act doesn’t include everything that Biden wanted with Build Back Better, but “it’s still a big deal,” said Noah. It lowers prescription drug prices, enforces taxation of corporations, and marks $370bn to fight climate change through tax incentives and grants.
“This is a huge win for the Democrats, but remember, this is the Democratic party, so there’s still plenty of ways for this thing to fall apart,” Noah concluded. “House Democrats could come out against it. Kyrsten Sinema could come out against it. Joe Manchin could come out tomorrow and oppose the bill just out of habit. But if it does get through, this could be the legislative victory that the Democrats need to ride into the midterms and only lose the House by 200 seats!”
