Senate MP approves climate, tax, health bill to go ahead

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The Senate MP has given the green light to a $740 billion reconciliation bill that will reform tax laws, tackle climate change and lower drug prices, putting the Senate on track to vote on the bill Saturday afternoon. .

Senate Majority Leader Charles Schumer (DN.Y.) announced on Saturday that the bill is on track to pass this weekend, after MP Elizabeth McDonough has ruled its provisions in line with budget rules making it a GOP filibuster. can bypass.

“Our meetings with the parliamentarian have now largely come to an end and we thank her and her staff for their hard work and dedication to such a major bill in such a short time,” he said. “Now that our meetings with the MP have largely come to an end, we have a bill in front of us that could win the support of all 50 Democrats.”

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Schumer said the bill’s key provisions remain “largely intact,” although the MP struck out a provision in the bill that would limit price increases in prescription drugs to the rate of inflation. The Senate official allowed the inflation cap to be applied to Medicare beneficiaries, but ruled out extending the cap to people with private health insurance.

The Democratic leader said senators should expect to vote sometime Saturday afternoon to begin debate on the legislation.

“In a few hours, we will formally begin the process of approving the Inflation Reduction Act of 2022 by voting on the motion to go ahead,” Schumer said.

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That will then lead to 20 hours of floor debate, followed by votes on an open series of amendments that could last all night and Sunday morning.

Schumer told his colleagues they should continue to vote until the bill is ready, probably sometime Sunday.

“It will help just about every citizen in this country and make America a much better place. We’re not leaving until the job is done,” he said.

Senate Republican leader Mitch McConnell (R-Ky.) took the floor after Schumer took the floor to sue the legislation for containing “hundreds of billions of dollars in tax hikes and hundreds of billions of dollars in reckless spending.”

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McConnell focused on the proposal to curb the cost of prescription drugs, which he warned would stifle how much money would go into future research.

“The government can’t really make something cheaper by making it illegal to raise the price. This is the logic of sophomore socialism,’ he said.

“The policy would create a world where far fewer drugs and treatments are invented in the first place, because companies are cutting back.” [research and development],” he said.

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