Senate Parliamentarian Approves Parts of Senate Democrat Bill, Strikes One Portion
The Senate’s rules expert has approved provisions in a major bill Senate Democrats want to pass soon called the Inflation Reduction Act, according to top Democrats in the body.
Parliamentarian Elizabeth MacDonough ruled that tax incentives for renewable energy and other related provisions can stand, Senate Finance Committee Chairman Ron Wyden (D-Ore.) said.
“I’m especially pleased that our prevailing wage provisions were approved,” Wyden said in a statement. “These provisions guarantee wage rates for clean energy projects. Clean energy jobs will be good-paying jobs.”
Another piece that would enable Medicare to negotiate the price of prescription drugs with pharmaceutical companies was also cleared, according to Senate Majority Leader Chuck Schumer (D-N.Y.).
“This is a major victory for the American people,” Schumer said.
Medicare is a health insurance program run by the federal government that primarily covers people aged 65 and older. About 64 million people are covered by the program.
Private insurers are already allowed to negotiate prices with drug companies.
MacDonough did strike down another portion of the bill, which would have essentially forced companies not to raise prices higher than inflation.
“While there was one unfortunate ruling … in that the inflation rebate is more limited in scope, the overall program remains intact and we are one step closer to finally taking on Big Pharma and lowering Rx drug prices for millions of Americans,” Schumer said.
Additional portions have not yet been fully vetted.
All Democrats Support Bill
The mammoth $433 billion bill has the backing of all 50 Democrats in Congress after swing Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) threw their support behind the legislation.
“We have agreed to remove the carried interest tax provision, protect advanced manufacturing, and boost our clean energy economy in the Senate’s budget reconciliation legislation,” Sinema, the last Democrat to announce her support,
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