The Koch Network puts pressure on Sens. Manchin, Sinema to oppose the $739 billion tax and spending bill

The political network backed by billionaire Charles Koch has launched a campaign of ads targeting Sens. Joe Manchin and Kyrsten Sinema to get moderate Democrats to block a massive tax and spending package that is progressing in the Senate.

The bill, called the Inflation Reduction Act of 2022, promises to add $739 billion in new revenue — primarily by setting a minimum corporate tax rate and making changes to Medicare drug prices — to help pay $433 billion for climate and health initiatives.

The bill is a rolled back version of President Joe Biden’s Build Back Better plan, which fell through earlier this year after Manchin and Sinema opposed key elements of the bill. The bill has a chance to pass after Manchin reached an agreement last week on a smaller tax and spending package with Senate Majority Leader Chuck Schumer, DN.Y. It represents one of the most important pieces of legislation for Democrats as they battle to keep their Senate seat with the November midterm session less than 100 days away. Manchin and Sinema, both up for re-election in 2024, represent the key votes in the Senate, split 50-50.

Americans For Prosperity, part of the larger Koch network, launched two ads Saturday on their Facebook, Twitter and YouTube pages. The ads specifically called Manchin and Sinema, encouraging them to oppose the law. “Senator Manchin can stop it. Come on Joe… Say NO to West Virginia,” Manchin advertisement speak. Cinema ads have almost exactly the same look and feel, only the ads end with clarify “Senator Sinema can stop it. Come on Kyrsten… Say NO to Arizona.”

Every ad from the Koch-backed group calls the bill “a $739 billion tax hike that will raise prices and make American energy more expensive.” The group’s posts on their media platforms link to an online messaging portal, allowing supporters to call on lawmakers to oppose the legislation.

Facebook’s ad archive shows these spots are playing in the Manchin and Sinema states of West Virginia and Arizona, respectively, as well as in Washington DC.

Bill Riggs, a spokesman for the American Foundation for Prosperity, told CNBC in an email Monday that the ad campaign versus the reconciliation bill is a buy-in of six across digital and TV platforms. connection. He said they are planning to expand this week to target Democrats who are Sens. Raphael Warnock, D-Ga., Catherine Cortez Masto, D-Nev., and Maggie Hassan, DN.H. All three of those Democrats who will be re-elected in the states in 2022 are expected to compete. Sinema and Manchin will not be re-elected until 2024.

The Chamber of Commerce Stand Together, founded by Charles Koch, has contributed $40 million to Prosperous Americans in 2020, according to the group’s latest financial disclosure. Koch is also the CEO of a large corporation called Koch Industries, which owns many energy subsidiaries.

Manchin has speak This measure is not a spending package and does not raise taxes but is instead focused more on investing money. Movie theaters have but to comment publicly on the bill.

Representatives for Manchin and Sinema did not respond to requests for comment.

West Virginia Legislator reach an agreement with Schumer last week about a massive settlement package aimed at reforming the tax code, fighting climate change and cutting health care costs for consumers. The bill, if passed, would levy a 15% corporate tax and close an interest loophole that would allow hedge fund managers and private equity partners to pay lower tax rates.

For both lawmakers, however, it is the latest attempt by an outside group with ties to corporate executives to try to sway their votes. The Koch Network has targeted both Cinema and Manchin during the 2022 election cycle. Former Leaders of Americans for Prosperity Is called about their grassroots supporters to push Manchin to oppose some of his party’s legislative priorities.

Corporations and their executives have also poured money into Manchin and Sinema’s re-election campaigns. Manchin’s campaign passed 1 million dollars over the past three months, including contributions from several energy companies, including Coterra Energy, NextEra Energy and Xcel Energy.

Federal Election Commission filings show Sinema’s campaign also received donations from chemical company Dow Inc., pharmaceutical giant Eli Lilly and telecom giant Verizon, among other corporations. , during the same period.