(Photo; Reuters)
WASHINGTON- After a marathon, 27-hour weekend session of debate, the U.S. Senate on Sunday passed a sweeping $430 billion bill intended to fight climate change, lower drug prices, and raise some corporate taxes, a major victory for President Joe Biden that Democrats hope will aid their chances of keeping control of Congress in this year’s elections. It heads next to the House.
No Republicans supported the legislation. North Dakota Senator John Hoeven said the Inflation Reduction Act creates higher taxes and more spending. Senator Kevin Cramer said instead of taking steps to fix the economic crisis, the Biden Administration and the Democrats are “doubling down on the dumb policies that created this mess in the first place.”
Minnesota Senators Amy Klobuchar and Tina Smith are celebrating the passage, saying it’s taking huge steps to reduce the national debt, fight inflation, and lowers prescription drug costs
A major component is capping out-of-pocket prescription drug costs for seniors in the Medicare program at $2,000 a year.
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