{"id":1593604,"date":"2022-08-07T22:10:13","date_gmt":"2022-08-08T02:10:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1593604"},"modified":"2022-08-07T22:10:23","modified_gmt":"2022-08-08T02:10:23","slug":"senate-democrats-pass-740-billion-climate-and-healthcare-reconciliation-package","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-democrats-pass-740-billion-climate-and-healthcare-reconciliation-package\/","title":{"rendered":"Senate Democrats pass $740 billion climate and healthcare reconciliation package"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsenate-democrats-pass-740-billion-climate-and-healthcare-reconciliation-package%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1593604&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/schumer-manchin-e1659922885222.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>The Senate passed the $740 billion Inflation Reduction Act on Sunday afternoon after an all-night session lasted more than 15 hours.<\/p>\n<p>The package, negotiated by Democratic Sens. <a href=\"https:\/\/dailycaller.com\/2022\/07\/27\/joe-manchin-will-support-reconciliation-package\/\">Joe Manchin<\/a> of West Virginia and Chuck Schumer of New York, passed along party lines, with Vice President Kamala Harris breaking the upper chamber\u2019s 50-50 tie. The bill includes nearly $370 billion in green energy subsidies and tax credits, nearly $80 billion in funding for the <a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/dem-spending-bill-shell-80-billion-supersize-irs\/\">Internal Revenue Service<\/a>\u00a0and a drug price setting mechanism for Medicare. It also <a href=\"https:\/\/www.washingtonpost.com\/business\/how-the-15percent-us-minimum-corporate-tax-would-work\/2022\/08\/05\/5f8754ba-14cf-11ed-8482-06c1c84ce8f2_story.html\">establishes<\/a> a 15% tax on corporations with market caps higher than $1 billion.<\/p>\n<p>Although Democrats have repeatedly argued that the bill will reduce inflation, the University of Pennsylvania\u2019s <a href=\"https:\/\/dailycaller.com\/2022\/07\/29\/inflation-reduction-schumer-manchin-wharton\/\">Penn Wharton Budget Model<\/a> has \u201clow confidence that the legislation will have any impact on inflation.\u201d In addition, the bill will likely <a href=\"https:\/\/dailycaller.com\/2022\/08\/01\/inflation-reduction-act-costing-americans-new-taxes\/\">raise<\/a> taxes for Americans in every bracket, despite President Joe Biden\u2019s pledge to not raise taxes on anyone making less than $400,000 a year. The Inflation Reduction Act will pay down the federal deficit by more than $3o0 billion, the non-partisan <a href=\"https:\/\/www.crfb.org\/blogs\/whats-inflation-reduction-act\">Committee for a Responsible Federal Budget<\/a> found.<\/p>\n<p>Senators voted down 35 amendments and passed two, with the 48 Democrats and Independent Angus King of Maine agreeing that they would oppose all <a href=\"https:\/\/rollcall.com\/2022\/08\/07\/democrats-remain-largely-united-on-vote-a-rama-amendments\/\">amendments<\/a> offered during vote-a-rama to offer the legislation its best chance of passing. Independent Vermont Sen. Bernie Sanders objected to the agreement, offering amendments that would restructure the child tax credit, but his proposal failed 97-1.<\/p>\n<p>\u201cThey\u2019re great amendments. I\u2019m very happy and I think it says something that every Democrat and Republican voted against them. It says I\u2019m doing something right,\u201d Sanders <a href=\"https:\/\/www.politico.com\/news\/2022\/08\/07\/democrats-senate-reconciliation-votearama-00050222\">complained<\/a>, according to Politico. \u201cI\u2019m fighting for you. I think that should be the message \u2014 not to come up with a convoluted reason you can\u2019t vote for it.\u201d<\/p>\n<p>Biden, whose team previously feuded with Manchin during negotiations, cheered the vote. <strong><a href=\"https:\/\/dailycaller.com\/2022\/07\/29\/joe-manchin-ostracized-victimized-build-back-better\/\">(RELATED: Joe Manchin Says He Was \u2018Ostracized\u2019 And \u2018Victimized\u2019 Over Killing Build Back Better)<\/a><\/strong><\/p>\n<p>\u201c<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Today, Senate Democrats passed the Inflation Reduction Act, siding with American families over special interests, voting to lower the cost of prescription drugs, health insurance, and energy and reduce the deficit while making the wealthiest corporations pay their fair share,\u201d he said in a statement.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Today, Senate Democrats passed the Inflation Reduction Act, siding with American families over special interests, voting to lower the cost of prescription drugs, health insurance, and energy and reduce the deficit while making the wealthiest corporations pay their fair share.<\/p>\n<p>\u2014 Joe Biden (@JoeBiden) <a href=\"https:\/\/twitter.com\/JoeBiden\/status\/1556386287090819075?ref_src=twsrc%5Etfw\">August 7, 2022<\/a><\/p>\n<\/blockquote>\n<p>The House of Representatives will take up the legislation when it gets back from recess on Aug. 12, Majority Leader Steny Hoyer <a href=\"https:\/\/www.majorityleader.gov\/content\/floor-schedule-update-%E2%80%93-votes-expected-august-12th\">announced<\/a>. The bill is expected to pass the lower chamber along party lines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Senate passed the $740 billion Inflation Reduction Act on Sunday afternoon after an all-night session lasted more than 15 hours.The package, negotiated by Democratic Sens. Joe Manchin of West<\/p>\n","protected":false},"author":67,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1593604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1593604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1593604"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1593604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1593604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1593604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1593604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}