"Earlier Saturday, the Senate parliamentarian gave a thumbs-up to most of Democrats’ revised 755-page bill. But Elizabeth MacDonough, the chamber’s nonpartisan rules arbiter, said Democrats had to drop a significant part of their plan for curbing drug prices." —Alan Fram and Farnoush Amiri
The Inflation Reduction Act consists of many measures aimed at reducing costs for everyday Americans. Unfortunately, it is currently facing a lot of friction, and the revised version will likely be a shadow of what it once was.
"The measure is a shadow of Biden’s initial 10-year, $3.5 trillion proposal, which funded a rainbow of progressive dreams including paid family leave, universal preschool, child care and bigger tax breaks for families with children. The current bill, barely over one-tenth that size, became much narrower as Democratic leaders sought to win the votes of the centrists [Joe] Manchin and [Kyrsten] Sinema." —Alan Fram and Farnoush Amiri
The package—with a generous amount of amendments that many Democrats will likely find outrageous—has become a deeply contentious and partisan issue.
"In a preview of the sharply partisan votes that are expected on a mountain of amendments, the evenly divided Senate voted to begin debate on the legislation 51-50, with Vice President Kamala Harris breaking the tie and overcoming unanimous Republican opposition. The package, a dwindled version of earlier multitrillion-dollar measures that Democrats failed to advance, has become a partisan battleground over inflation, gasoline prices and other issues that polls show are driving voters." —Alan Fram and Farnoush Amiri
It is possible that the House could give this legislation final approval by next Friday.
"The House, where Democrats have a slender majority, could give the legislation final approval next Friday when that chamber plans to briefly return to Washington from summer recess." —Alan Fram and Farnoush Amiri