Manchin has been adamant he wants higher taxes on corporations to bring down the deficit and help fight inflation.

For months, his shorthand has been a 2:1 ratio of fresh revenues to new spending, with some $500 billion going to deficit reduction.

But early House discussions led by Gottheimer don’t envision any new taxes on corporations or wealthy individuals. The Trump tax cuts on corporations and individuals would remain in place.

Gottheimer’s formula would leave $177 billion for deficit reduction — a step toward Manchin but a long way from his roughly $500 billion target.