Senate Majority Leader Chuck Schumer (DN.Y.) said on Thursday that the Senate would vote to move forward the Inflation Reduction Act, Democrats’ package to tackle climate change, prescription drugs and inflation, later this week.
J. Scott Applewhite / AP
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J. Scott Applewhite / AP
Senate Majority Leader Chuck Schumer (DN.Y.) said on Thursday that the Senate would vote to move forward the Inflation Reduction Act, Democrats’ package to tackle climate change, prescription drugs and inflation, later this week.
J. Scott Applewhite / AP
Senate Democrats ‘massive’ receipt Go to the address climate changetax, health care and inflationary will advance to the Senate on Saturday afternoon, Majority Leader Chuck Schumer announced Thursday.
Democrats are trying to pass the bill under a budget process known as reconciliation, allowing Democrats to pass legislation without being threatened by a Republican critic. All 50 Democratic senators would need to vote on the bill for it to pass, with an unfavorable vote from Vice President Kamala Harris.
Saturday afternoon’s vote will be a procedural vote to start the debate. Up to 20 hours of debate can take place, divided equally between the two sides. Most likely won’t need the full 20 hours, as Democrats are expected to cede most of their time.
Then, a process known as “vote-a-rama” begins, which means senators can introduce unlimited amendments to the law. There may also be a call to read aloud the entire 725-page bill.
Schumer said Thursday he expects the process to take a long time.
“I hope we’re going to have some late nights and protracted debates here on the floor,” he said.
Before it can be put on the floor, the senator needs to complete his analysis of the bill to determine whether it can be allowed under mediation in the first place.
And then, passage of the bill is still far from guaranteed, as Arizona Senator Kyrsten Sinema has yet to signal her support for it.
Republicans, meanwhile, have repeatedly criticized the act. McConnell has called it a “good pocket of environmental activists far removed at the expense of working families.”
He also said the bill would not help, or make worse, inflationary.
Data from the Congressional Budget Office shows the law will reduce the deficit by about $300 billion, but its impact on future inflation is negligible. the office said. They also acknowledged the bill would affect inflation next year, but the CBO has not assessed those effects.
Economists like Larry Summers, who has criticized the Biden administration’s handling of the economy in the past, say the bill is a positive step and repels critics, who say the impact of the bill for inflation will not be seen for a number of years. .
“I’ve seen a bill that, when fully analyzed, would have a positive effect on inflation – not a huge positive effect but a positive impact on inflation,” Summers said. told NPR’s All Things Considered.
