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Senate Passes Climate, Health, Taxes Bill, Democrats Win Big

Meeks: Senate bill is a 'cake topper' for Democrats

WASHINGTON — On Sunday, the Senate passed the Democrats' sweeping economic package to combat climate change, address health care costs, and save the world. Aiming to raise corporate taxes, this marks an important achievement for President Biden and his party as they try to maintain support in Congress in November's midterm elections.

The plan, called the Inflation Reduction Act, was passed in the Senate by her 51-50 vote, with Vice President Kamala Harris taking a tie vote in the Senate. Democrats used a rapid legislative process known as settlement to pass legislation in the face of unanimous opposition from Republicans.

Senate Majority Leader Chuck Schumer said as senators prepared to vote on the final bill, "It's been a long, winding and winding road, but it's finally here." rice field. “Today, after more than a year of hard work, the Senate is making history. }

The voting took place after a marathon session that lasted from night to Sunday afternoon, with Democrats applauding as members took their final vote. In a process known as the "llama vote," Republicans submitted a number of amendments and Democrats successfully held her nearly 16-hour debate.

Republican senators succeeded in blocking a provision limiting the price of insulin to $35 per month for those covered byprivate health insurance plans.Democrats needed 60 votes to abandon the settlement rule and keep that part of the bill, but they failed 57 to 43, with seven Republicans supporting the bill.

House Democratic leadership announced last week that the House would return from a month-long recess on Friday to take up the bill. This bill is expected to pass.

The package, the culmination of months of negotiations on Mr. Biden's domestic policy agenda, which was sometimes thought to be on life support,was announced last month in a surprise announcement. It was reopened in the late agreement between Schumer and Senator Joe Manchin, a moderate Democrat of West Virginia.

WASHINGTON, DC - AUGUST 6: Senator Joe Manchin (D-WV) chats wit
Senator Joe Manchin chats with staff at his Hill on the Capitol in Washington, Aug. 6, 2022. Shuran Huang for The Washington Post via Getty Images

This bill is more expensive than the $3.5 trillion bill Biden introduced last year. Although much narrower, the tailored package had the support of Manchin and Sen. Theendorsement of Arizona Democrat Kirsten Cinema was very important. Hailed as a response to rising global warming, the nearly $400 billion investment in combating climate change is the largest yet. This package allows Medicare to negotiate the price of prescription drugs. This is a key Democratic priority that is expected to save hundreds of billions of dollars over the next decade. He will also extend health insurance subsidies that were due to expire at the end of the year and impose a minimum tax of 15% on most businesses that earn more than $1 billion annually. 

As senators neared their final vote on Sunday, the corporate tax clause emerged as an issue.Cinema, John Ossoff, Raphael Warnock, Catherine Cortez Mast, Maggie Hassan, Mark Kelly, Jackie Rosen of seven Democratic senators joined the Republican Party in supporting an amendment proposed by Republican Senator John Tune of South Dakota. From a minimum corporate tax rate of 15%. The amendment passed by him 57-43.

To promote clean energy, the bill includes tax credits for the purchase of electric vehicles and the manufacture of solar panels and wind turbines. It also provides rebates to consumers who buy energy efficient appliances and he will provide $4 billion in drought relief.

Schumer hailed the bill as "the most audacious climate change" in US history, calling it a "game changer" and a "turning point."

"It will take a long time.

Part of the Democratic drug pricing plan — penalizing pharmaceutical companies for raising prices above private insurer inflation — Deleted Senator Elizbeth MacDonough.

The Congressional Budget Office estimates that the legislation will reduce the deficit by $102 billion over the next decade. But Republicans argued that the plan would have little effect on inflation, instead raising taxes and leading to job losses.

In an interview with "Face the Nation" on Sunday, Republican Senator Rick Scott of Florida said the Democratic Party's drug pricing plan claimed to harm the elderly. , on the other hand, the tax factor raises taxes on Americans.

"Why are you increasing government costs? We are increasing taxes," he said. 160}

    In:
  • Congress
  • Economy
  • Kamala Harris
  • Inflation

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