BREAKING: Pres. Biden hails passage of the Inflation Reduction Act: 'I ran for President promising to make government work for working families again, and that is what this bill does — period.”
August 07, 2022, 3:23 PMThe Senate vote on the Inflation Reduction Act is seen in a still from video from the the Capitol, Aug. 7, 2022.The Senate on Sunday passed the Inflation Reduction Act along party lines, 51-50, handing Democrats a crucial legislative win as the midterm cycle ramps up -- despite GOP objections at the billions in spending and drug pricing reforms.
Vice President Kamala Harris cast the tie-breaking vote in the Senate with all Democrats in support of the legislation and all Republicans opposed. The proposal was passed via the budget reconciliation process, which requires a simple majority rather than the 60 votes typically needed to overcome a filibuster.
The bill passed the Senate after a punishing, approximately 16-hour "vote-a-rama," in which any senator could introduce an amendment to the bill as part of the reconciliation process.Vulnerable Democratic incumbents up for reelection this year had to dance around a vote on the Biden administration's decision to scrap Title 42, a Trump-era order using coronavirus concerns to prevent migrants from entering the country while seeking asylum.
Among the changes Sinema won were the eliminations of tax provisions targeting wealthy hedge-fund managers and private equity executives. The Senate rules official, the parliamentarian, also scrapped a provision intended to reprimand drug companies that raise the prices of some prescription drugs faster than inflation for patients with private insurance.
The IRA also extends a streak of achievements for Biden and congressional Democrats, including passage of a bipartisan anti-gun violence bill and legislation to boost the domestic semiconductor industry."This bill is going to change America for decades," Schumer crowed after final passage.
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