Biden praises Democrats' compromise on climate change, taxes, and health care as "a historic accord.

A Democratic agreement on tax, health, and climate policy was hailed by President Joe Biden on Thursday as "the most significant legislation in history to address the climate problem" and "an historic agreement to fight inflation."

With this measure, Biden added, "we're confronting some of our biggest problems and taking a huge step forward as a country."

One day before to Biden's comments, Sen. Joe Manchin (D-W.Va.), the senator who had been the Democrats' main source of contention in negotiations over the major legislation, reached an understanding with Senate Majority Leader Chuck Schumer on the measure they have termed the Inflation Reduction Act.

Despite hurdles, Senate Democrats want to pass the new agreement next week: The party needs to guarantee that the law adheres with stringent parliamentarian standards and has the support of all 50 of its members in order for it to succeed with a simple majority, plus Vice President Kamala Harris' tie-breaking vote. Sen. Kyrsten Sinema (D-Ariz.), a fellow Democrat with whom party leaders have occasionally had difficulty passing legislation, has not yet taken a public position on the proposal.

But despite the fact that the talks had looked to stall out numerous times over the previous year, most recently last month, Biden grabbed the chance on Thursday to acknowledge the breakthrough.

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