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U.S. Senator Joe Manchin and Majority Leader Chuck Schumer have struck a deal on a tax, energy and climate policy bill, breaking a deadlock on the Democrats’ long-sought legislation to enact major parts of U.S. President Joe Biden’s agenda.

The plan, announced by the two Democrats on Wednesday evening, would generate an estimated $739 billion in revenue, spend $433 billion and reduce deficits by $300 billion.

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