Issued on: 07/08/2022 – 23:45
The U.S. Senate passed a sweeping $430 billion bill on Sunday intended to fight climate change, lower drug prices and raise some corporate taxes, a major win for President Joe Biden that Democrats hope will boost their chances. will help maintain control of Congress in this year’s elections.
After a marathon, 27-hour weekend session of debate and Republican attempts to derail the package, the Senate passed legislation known as the Inflation Reduction Act with a 51-50 party line vote. Vice President Kamala Harris cast the casting vote.
The move will send the measure to the House of Representatives for a vote expected Friday, which may in turn forward it to the White House for Biden’s signature. In a statement, Biden urged the House to act as soon as possible and said he looked forward to signing the bill.
“The Senate is making history,” said a delighted Senate Majority Leader Chuck Schumer, after pumping his fists in the air as Democrats cheered and staffers responded to the vote with a standing ovation.
“For Americans who have lost confidence that Congress can do great things, this bill is for you,” he said. “This bill is going to change America for decades.”
Schumer said the legislation includes “the most audacious clean energy package in U.S. history” to fight climate change while cutting consumer costs for energy and some drugs.
Democrats have faced harsh attacks from Republicans over the $430 billion in new legislation spending and about $740 billion in new revenue.
Nevertheless, Democrats hope its approval ahead of an August recess will aid the party’s House and Senate candidates in the November 8 midterm elections, as Biden suffers from an anemic public approval rating amid of high inflation.
The legislation aims to reduce carbon emissions and switch consumers to green energy, while lowering the cost of prescription drugs for the elderly and tightening tax enforcement for businesses and the wealthy.
Because the measure will pay for itself and reduce the federal deficit over time, Democrats say it will help reduce inflation, an economic imperative that has also weighed on their hopes of maintaining legislative control in the run-up to the presidential election. from 2024.
Republicans, who argue the bill won’t tackle inflation, have denounced the measure as a job-destroying left-wing spending wish list that could undermine growth if the economy threatens to slide into recession.
Democrats passed the bill using a parliamentary maneuver called reconciliation, which allows budget-related legislation to bypass the 60-vote threshold of the 100-seat chamber for most bills and pass a simple majority.
After several hours of debate, the Senate began a rapid-fire “vote-a-rama” on Democratic and Republican amendments on Saturday night, extending until Sunday afternoon.
Democrats rejected more than 30 Republican amendments, motions of order and motions, all designed to break the legislation. Any change to the bill’s content through an amendment could have unraveled the coalition of 50 Democrats’ senators needed to keep the legislation on track.
No Insulin Cost Limit
But they were unable to gather the votes needed to maintain a provision to limit rising insulin costs to $35 a month in the private health insurance market, which fell outside the reconciliation rules. Democrats said the legislation would still limit insulin costs for people on Medicare.
Foreshadowing the upcoming fall election campaign, Republicans used their defeats in amendments to target vulnerable Democrats seeking re-election in November.
“Democrats are voting again to continue the chaos on the southern border,” Republican Senate leader Mitch McConnell said in a statement that names Democratic Senators Mark Kelly of Arizona, Catherine Cortez Masto of Nevada, Maggie Hassan of New Hampshire and Raphael Warnock of Georgia. All four face tight contests for re-election.
The bill was more than 18 months in the making when Biden’s original sweeping Build Back Better plan was thwarted despite opposition from Republicans and key lawmakers from his own party.
“A lot of compromises were necessary. Doing important things almost always does,” Biden said in a statement.
(REUTERS)