February 7, 2023

Senate Majority Leader Chuck Schumer speaks during a press conference on the Inflation Reduction Act Friday in Washington.Maryam Zohaib / AFP

The climate and healthcare bill introduced by Democratic senators is a big step on the way to becoming law after becoming an MP sign out On most packaging on Saturday morning.

“Inflation Reduction Act” Fox Call The “biggest thing the United States has ever done to tackle climate change” includes nearly $370 billion in climate spending. It would also allow Medicare to negotiate prescription drug prices and reduce the deficit through measures that include a new minimum tax on some of the nation’s largest companies.

Less than two weeks ago, there appeared to be little chance of Democrats passing key legislation before the November midterm elections. But in late July, Majority Leader Chuck Schumer and Senator Joe Manchin, who helped support President Joe Biden’s more ambitious package to Build Better, Washington was shocked By striking a deal they said would result in hundreds of billions of dollars being spent on climate while also increasing revenue.

Then the main question became what Senator Kirsten Senema would do, the other major Democratic obstacle to Senate action. Late Thursday, Cinema said it was largely behind the bill apart from a provision that would have eliminated the tax break used by private equity rich, which even Donald Trump has said allows the wealthy to get away with murder. Cinema added, however, that its public support remains “subject to parliamentary review”.

On Saturday, Democrats removed that hurdle when they announced that Parliamentary Senator Elizabeth McDonough — the nonpartisan expert responsible for determining whether legislation complies with Senate rules — concluded most of the bill could pass through reconciliation. This means that Democrats only need a slim majority — not the 60 votes needed to overcome Republican stalling — to pass the bill. The 50-50 vote is expected with Vice President Kamala Harris as the divider.

Democrats plan to hold a procedural vote on Saturday to advance the Inflation Cut Act. Assuming the bill survives in the Senate, the bill will head to the House, where Democrats have fewer problems passing bills. It may sound surreal, but it actually looks like Congress is about to do something seriously big.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *