The U.S. House on Friday passed a sweeping spending package aimed at juicing green energy and reining in health care costs, sending the bill to the White House and delivering a major victory for Democrats just months before the midterms.
and reining in health care costs, sending the bill to the White House and delivering a major victory for Democrats just months before the midterms.
The Medicare changes will impact nearly 4.5 million Texans, limiting their out-of-pocket costs and capping the cost of insulin at $35 a month.The so-called Inflation Reduction Act of 2022 also tweaks the tax code to target major corporations and tax cheats, which Democrats say will more than cover the costs of the legislation, driving down the federal deficit over the next decade.
It passed the House on a party line vote, with Democrats cheering it as a win for working people. Republicans called the legislation reckless and said it will do little to drive down inflation, despite its name.
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