U.S. Senate Democrats pushed their election-year economic package into passage Sunday, a hard-fought compromise plan that now heads to the U.S. House. alabamanewsnetwork
It’s less ambitious than President Biden’s original domestic vision but one that still meets the Democrats’ goals involving climate, health care and taxes.“It’s been a long, tough and winding road, but at last, at last we have arrived,” said Senate Majority Leader Chuck Schumer, D-N.Y., ahead of final votes.
The House seemed likely to provide final congressional approval when it returns briefly from summer recess on Friday. Nonpartisan analysts have said the new “Inflation Reduction Act” would have a minor effect on surging consumer prices. In an ordeal imposed on all budget bills like this one, the Senate had to endure an overnight “vote-a-rama” of rapid-fire amendments. Each tested Democrats’ ability to hold together a compromise negotiated by Schumer, progressives, Manchin and Sen. Kyrsten Sinema, D-Ariz.
But the thrust of their pharmaceutical price language remained. That included letting Medicare negotiate what it pays for drugs for its 64 million elderly recipients, penalizing manufacturers for exceeding inflation for pharmaceuticals sold to Medicare and limiting beneficiaries out-of-pocket drug costs to $2,000 annually.
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