Senate Democrats passed a signature bill to address climate change and prescription drug prices early Sunday morning and sent the bill to the House of Representatives.
This law, known as the Cut Inflation Act of 2022, would be the biggest step the U.S. government has taken to cut domestic emissions at a time when global targets have stalled. . It also allows Medicare to negotiate drug prices, cap insulin costs for Medicare recipients, and continue subsidizing Obamacare.
The votes followed a series of polls known as the "rama votes" that began late Saturday night and lasted until Sunday afternoon. All 50 voted YES on the bill, along with Vice President Kamala Harris, and all Republicans voted YES on the bill.
The bill is now sent to the House of Representatives and is likely to pass if only nine of his 220 Democrats oppose it. The White House said President Joe Biden will sign the bill into law.
The bill comes after Democrats have spent more than a year trying to pass a domestic law signed by President Joe Biden. Mr. Biden initially hoped to pass a large social spending bill that would include expanding the child tax credit. home care for the disabled; expanded hearing coverage for Medicare recipients; immigration reform; stronger efforts to combat climate change and promote clean energy; They hoped to pass it along with his bipartisan infrastructure bill.
But Democratic Senator Joe Manchin, a conservative Democratic senator from West Virginia, , unveiled an opposition bill known as Build Back Better in December. This has led to many rounds of negotiations between Mr. Manchin and his Senate Majority Leader Chuck Schumer. Late last month, Mr. Schumer and Mr. Manchin announced a deal known as the Inflation Reduction Act, which agreed with Mr. Manchin's concerns about rising prices.
It will also boost America's credibility on the international stage, as Mr. Biden plans to head to Egypt for his COP27. So he will call on other major emitters such as China and Europe to drastically cut their fossil fuel use.
This bill would add his $3,690 to climate and clean energy, including billions of dollars in tax incentives to expand renewables, storage batteries and nuclear power over the next decade. We are proposing a billion dollar investment.
The legislation also provides tax credits to facilitate the purchase of electric vehicles, helps farmers reduce agricultural emissions, and helps reduce emissions from agriculture, which is most affected by climate and pollution. It funds improvements in minority and low-income communities that live in the United States.
Some new analyzes of the IRA by an independent policy group found emissions to be reduced by about 40% (below 2005 levels) by the end of the decade. This brings the United States closer to President Joe Biden's pledge to cut US emissions in half by 2030.
Some climate activists and environmental groups opposed aspects of the bill necessary to win Mr. Manchin. Property from his state's coal industry, including the government's requirement to auction leases for oil and gas drilling in public lands and waters, including the Gulf of Mexico and Alaska.
Coal and gas plants using carbon capture technology will also receive extended tax credits. Manchin was given another promise of accelerated permit progress on West Virginia's Mountain Valley Gas Pipeline.
At the same time, many Democratic senators said they would not vote to amend the bill, perceiving it as their only chance to pass major climate-related legislation.
Many Democrats also expressed excitement over the fact that it would allow Medicare to negotiate drug prices. Issued guidance undermining parts of the law that force Medicare to reimburse if it raises drug prices above inflation .
A member of Congress dealt another blow to Democrats when she announced a plan to limit insulin for privately insured patients to her $35 did not follow budget adjustment rules. This prompted Republicans to issue an order to remove it from the bill.
The bill required Democrats to win his 60 votes to keep the price of insulin at $35 for privately-insured patients, but Republicans who voted to keep it There were only seven members of his staff.
Similarly, Republican Senate Minority Rep. John Thune accused the Democratic Party of Attempted to include carve-outs in proposed minimum corporate tax...but continued caps on state and local tax deductions implemented during Trump tax cuts opposed by many Democrats in New York, New Jersey and California
Six Democrats joined Mr Cinema, including Senators John Ossoff and Rafael Warnock of Georgia. Jackie Rosen and Catherine Cortez Mast in Nevada. Mark Kelly of Arizona. and Maggie Hassan of New Hampshire.
Virginia Senator Mark Warner introduced an alternate amendment that passed with all Democrat ballots.
Despite setbacks, Democrats passed the bill early Sunday evening.
Senator Gary Peters of Michigan, who is chairman of the Democratic Senate Election Committee and is responsible for protecting Democratic elections and incumbents, said the prescription drug aspect would help the Democratic campaign. said deaf.
"Looking at the polls, it seems to be the biggest problem for most people in this country right now," he told The Independent during the vote, discussing the bill. It was started.
Democrats also received a life raft when Republicans failed to issue an order to repeal portions of a bill that capped insulin costs for non-Medicare patients.
Senator Bernie Sanders, who criticized it as inadequate, said that instead of negotiating an initial 10 drugs by 2024 and 20 by 2029, Medicare would be able to negotiate prices for all drugs.
"I think it is imperative that this Congress, at least as a party, understands the crisis facing working families, and I We will support them and vote on some serious amendments to improve the bill, he told reporters on Saturday afternoon.
and an amendment to include dental, hearing, and eye care within Medicare coverage failed because most Democrats opposed the bill.
Nonetheless, many Democratic lawmakers welcomed the bill's passage. Sen. Sherrod Brown of Ohio said it showed the Democrats could fight special interests. , this is the first time you think about this we fought pharma companies we never lost we fought oil companies we rarely lost we fought wall street we won all three but , how important it is.
