A divided Congress gave final approval Friday to Democrats' flagship climate and health care bill, handing President Biden a back-from-the-dead triumph on coveted priorities that the party hopes will bolster their prospects in November.
, handing President Joe Biden a back-from-the-dead triumph on coveted priorities that the party hopes will bolster their prospects for keeping their hold on Congress in November's elections.
"Democrats, more than any other majority in history, are addicted to spending other people’s money, regardless of what we as a country can afford," said House Minority Leader Kevin McCarthy, R-Calif. "I can almost see glee in their eyes." Another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance. Medicare would gain the power to negotiate its costs for pharmaceuticals, initially in 2026 for only 10 drugs. Medicare beneficiaries' out-of-pocket prescription costs would be limited to $2,000 starting in 2025, and beginning next year would pay no more than $35 monthly for insulin, the costly diabetes drug.
Rep. Andrew Clyde, R-Ga., said Democrats would also "weaponize" the IRS with agents, "many of whom will be trained in the use of deadly force, to go after any American citizen." Sen. Chuck Grassley, R-Iowa, asked Thursday on "Fox and Friends" if there would be an IRS "strike force that goes in with AK-15s already loaded, ready to shoot some small business person.
The GOP also says the bill would raise taxes on lower- and middle-income families. An analysis by Congress' nonpartisan Joint Committee on Taxation, which didn't include the bill's tax breaks for health care and energy, estimated that the corporate tax boosts would marginally affect those taxpayers but indirectly, partly due to lower stock prices and wages.
They called their $3.5 trillion plan Build Back Better. Besides social and environment initiatives, it proposed rolling back Trump-era tax breaks for the rich and corporations and $555 billion for climate efforts, well above the resources in Friday's legislation.
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