This post was originally published on this siteCongress is staring down a critical stretch of time to cinch a funding bill to prevent a government shutdown before September comes to a close.Lawmakers are already armed with a list of political land mines they have to carefully navigate — from an...
This post was originally published on this sitePresident Biden will sign into law the sweeping climate, health care and tax legislation that has been Democrats’ priority for more than a year during a ceremony at the White House on Tuesday. The signing will represent a major milestone for Biden and...
This post was originally published on this siteThe House is taking up a sweeping Senate-passed package that aims to lower health-care costs, combat climate change, raise taxes on some large companies and reduce the deficit.
This post was originally published on this siteNPR’s A Martinez talks to Brian Deese, director of the National Economic Council, about the Senate passing a major climate, health care and tax bill. Deese discusses what’s in it and what isn’t.
This post was originally published on this siteDemocrats in competitive election races were quick to tout their sweeping new climate and economic package after it passed the Senate on Sunday in a party-line
This post was originally published on this siteThe president plans a virtual meeting with business and labor leaders to tout the Inflation Reduction Act, which aims to lower health-care costs, combat climate change and reduce the deficit.
Democrats are working to get Sen. Kyrsten Sinema to yes on Manchin-backed climate, health, and tax bill
As Senate Democrats prepare to start voting on their in-progress climate, health care, and tax package this week, they are facing two big wild cards: the Senate parliamentarian and Sen. Kyrsten Sinema (D-Ariz.), the only member of the Democratic caucus who has not publicly backed the legislation.
The package, the Inflation Reduction Act, is designed to cut prescription drug costs, incentivize people to buy electric vehicles, increase energy production from green and petroleum sources, and make the tax code fairer by closing off ways for profitable corporations and wealthy individuals to evade paying federal taxes. The Congressional Budget Office estimated Wednesday that the legislation would reduce federal deficits by $101.5 billion to $305 billion over a decade.
The parliamentarian is poring through the bill, looking for provisions that run afoul of the rules guiding the budget reconciliation process Democrats are using to sidestep a Republican filibuster. She could rule that certain parts of the bill, like the $35 cap on insulin, have a significant effect on federal spending, revenues, and debt, Politico reports. Sinema, The New York Times adds, “has remained a tight-lipped enigma,” though Democrats say they are communicating with her on the legislation in private. Republicans and business interests are, too.
Behind the scenes, Sinema is seeking changes to some of the tax provisions and wants $5 billion in drought resiliency funds, a priority for her home state of Arizona, Politico and the Times report. She reportedly wants to scrap a provision that would close the “carried interest loophole” used by hedge fund and private equity mangers to pay lower taxes on fees their clients pay them, cutting about $14 billion of the bill’s $739 billion in new funding. Democrats are unsure where she stands on a second provision that would ensure large, profitable corporations pay at least 15 percent in federal taxes.
Sinema is making “a relatively modest ask in the grand scheme of the legislation,” Politico reports, but it could still upset the careful deal worked out between Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.Va.), the Senate’s other committed centrist. All 50 Democrats have to stick together to pass the legislation in the evenly divided Senate.
This post was originally published on this siteThe Biden administration on Tuesday will announce $1.75 billion in infrastructure funding to improve accessibility at the nation’s public rail stations, allowing local transit authorities to retrofit stations with elevators to accommodate travelers with disabilities.
This post was originally published on this site“The problem was that we continued to talk to Manchin like he was serious. He was not.”
This post was originally published on this siteThe West Virginia Democrat’s decision dealt a crushing blow to President Biden’s domestic agenda, effectively ruling out action on anything beyond prescription drug pricing and health care subsidies.