Washington – Senate Republicans on Sunday prevented a $35 per month cap on the cost of private-market insulin from being included in Democrats’ economic tax and spending package, voting against the measure’s amendment during a marathon session leading to what Democrats hope will be final. Pass the bill.
On Saturday night, the Senate began considering more than 30 amendments to the Inflation Reduction Act, a $700 billion Democratic bill aimed at combating climate change, raising taxes on big business and tackling rising health care costs.
Amid the proposed changes to the plan was a $35 a month cap on insulin, the expensive drug needed to treat diabetes. Seven Republican senators voted with all 50 Democrats to keep the price cap in the legislation: Bill Cassidy of Louisiana, Susan Collins of Maine, Josh Hawley of Missouri, Cindy Hyde Smith of Mississippi, John F. Kennedy of Louisiana, Lisa Murkowski of Alaska, and Dan Sullivan of Alaska.
However, by 57 votes to 43, the item failed to obtain the 60 votes needed to waive special budget rules and include them in the bill. the homeSimilar cap to the price of insulin in April.
Democrats hope to filter the sweeping legislative package on Sunday, causing the House of Representatives to return briefly to Washington this week for approval. Passing it would secure President Biden and congressional Democrats a major victory before the midterm elections, when they work to maintain control of Congress.
The legislation is the culmination of months of negotiations over Biden’s domestic policy plan, which at times appeared dead but was revived late last month withAgreement between Senate Majority Leader Chuck Schumer and Senator Joe Manchin, a moderate Democrat from West Virginia.
Democrats praise the plan as their response to tackling inflation and its $400 billion investment in fighting climate change. The package allows Medicare to negotiate prescription drug prices, extend enhanced health insurance benefits that were due to expire at the end of the year and impose a 15% minimum tax on businesses that make more than $1 billion each year.
To promote clean energy, the measure includes tax credits for the purchase of electric vehicles and the manufacture of solar panels and wind turbines. It also provides discounts to consumers who purchase energy-efficient appliances and provides $4 billion in drought relief.