“This is one of the most significant pieces of legislation passed in a decade,” Senate Majority Leader Charles E. Schumer (D-N.Y.) said in an interview before the bill’s passage in the Senate.
On Aug. 7 Senate Majority Leader Charles E. Schumer (D-N.Y.) heralded the passage of the Inflation Reduction Act, calling its passage a “defining feat.”
Delivering multiple fiery speeches, Sanders implored his colleagues to improve a bill that “does nothing” to address the greatest financial challenges facing families.
Despite support from seven Senate Republicans, an amendment to include a $35 insulin price cap in the Inflation Reduction Act failed to get 60 votes on Aug. 7.
To respond to a rapidly warming planet, Democrats set aside about $370 billion for energy security and climate change.
A slew of similar compromises define the Inflation Reduction Act, which Democrats opted to move through the process known as budget reconciliation.
“The idea we were going to solve virtually every issue in one bill … was probably a bridge too far.”. »
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