- On Wednesday, Sen. Joe Manchin and Senate Majority Leader Chuck Schumer reached a deal. They said The Inflation Reduction Act of 2022 should help ease inflation and fight climate change. The agreement breaks a stalemate on Biden's agenda that lasted for nearly a year. It will include climate programs and tax hikes on corporations. Read the full text of the deal. It helps to remember Kahlil Gibran's words of wisdom, "Even he who limps goes not backward."