The White House and some Senate Democrats aren’t giving up on Sen. Joe Manchin (DW.V.) just yet — and are leaving the door open to pursue climate legislation in a possible second reconciliation package, according to Axios. Why it matters: The keep-hope approach means President Biden can’t compete with Manchin by taking immediate executive action on issues that matter deeply to the moderate West Virginia senator, like the pipeline permit. The latest: The White House decided not to declare a “national climate emergency” this week that would have opened up federal resources to fight global warming, the AP first reported. However, Biden is expected to announce some executive actions aimed at addressing the issue. State of play: Democratic leaders still plan to fast-track legislation that lowers prescription drug costs and provides subsidies for the Affordable Care Act — and bring it to Biden in early August before Congress leaves for recess.

But if June’s 9.1% inflation eases enough to keep Manchin interested, they could get one last shot at the climate provisions he forced them to abandon this month. “We’re open to it, whatever the vehicle is,” Senate Majority Leader Dick Durbin (D-Ill.) told Axios. “There is a second chance.” “I’m stressing the possibility that because this is very difficult to put together — a second reconciliation bill that will pass the Senate’s congressional review and [getting] on the floor,” he said.

Between the lines: No one knows what Manchin’s magic inflation number is to consider spending about $300 billion on renewable energy incentives. The next release of the Consumer Price Index (CPI) is on August 10. Leading the news: Over the weekend, Democrats were depressed and frustrated that Manchin appeared to be closing the door on climate provisions after spending the year hammering home the core of Biden’s ambitious agenda to build better.

Some outside climate advisers urged Biden to declare a climate emergency and accomplish administratively what he could not accomplish legislatively. If executive action were the only route, there was no need to keep Manchin happy or sensitive to his pet priorities, some Democrats argued. But then Democrats began to elaborate on what Manchin actually said on Hoppy Kercheval’s West Virginia radio show last week. They didn’t hear a final “no”. “We have to take Sen. Manchin at his word. He says it’s off the table,” Sen. Ed Markey (D-Mass.) told NBC News on Monday.

What they’re saying: Manchin himself seemed eager to tackle climate policy this summer. “Let’s see what Congress does. Congress needs to act,” he told ABC’s Alison Pecorin on Tuesday when asked if he supports Biden declaring a national climate emergency.

“We will continue to fight on climate,” Senate Majority Leader Chuck Schumer (DN.Y.) said at his weekly news conference. “We will look at what we can do… There is always a second reconciliation bill available to us.”

“We are much closer to a climate deal than people realize. Let’s not throw in the towel just yet. Fighting climate change is more important than any August shutdown,” wrote Sen. John Hickenlooper (D-Colo .) on Twitter on Tuesday.

Yes, but: Democrats recognize that trying to push through another reconciliation bill this Congress is a daunting task.

Would they make another deal with Manchin? Yes. But if they succeed in landing prescription drug prices and ACA subsidies in a deal bill, that would potentially close the fiscal year 2022 budget resolution. That could mean passing a FY2023 budget resolution to craft a climate reconciliation bill, which would require two more unanimous votes on the amendments before the midterms or session.

For the story: “Because Congress has failed to act on the national security and economic threat of climate change, the President will take action that builds on the historic steps he has taken since his inauguration,” his deputy press secretary told Axios Andrew Bates White House.

“He will continue to do so to lower energy costs, keep the American people safe and keep our economy strong.”

The bottom line: Democrats are eager to seal a victory on prescription drugs now, while Manchin still has the guts to get busy — and get a bill to Biden’s desk before the August recess. Anything else is considered gravy.