In a vote down party lines (go figure) the Dems have passed a sweeping economic package (I am not sure how damn sweeping it is….but at least they did something)
Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less sweeping than President Biden’s original domestic vision but one that still meets deep-rooted party goals of slowing global warming, moderating pharmaceutical costs, and taxing immense corporations. The estimated $740 billion package heads next to the House, where lawmakers are positioned to deliver on Biden’s priorities, a stunning turnaround of what had seemed a lost and doomed effort that suddenly roared back to political life. Democrats held united, 51-50, with Vice President Kamala Harris casting the tie-breaking vote, the AP reports.
“The Senate is making history,” said Senate Majority Leader Chuck Schumer ahead of the final votes. “I am confident the Inflation Reduction Act will endure as one of the defining legislative measures of the 21st century.” Senators engaged in a round-the-clock marathon of voting that began Saturday and stretched into late Sunday afternoon. Democrats swatted down some three dozen Republican amendments designed to torpedo the legislation. Confronting unanimous GOP opposition, Democratic unity in the 50-50 chamber held, keeping the party on track for a morale-boosting victory three months before elections in which congressional control is at stake. The House seemed likely to provide final congressional approval when it returns briefly from summer recess on Friday.
The bill ran into trouble midday over objections to the new 15% corporate minimum tax that private equity firms and other industries disliked, forcing last-minute changes. Still, the approval gives Democrats a campaign-season showcase for action on coveted goals. It includes the largest-ever federal effort on climate change—close to $400 billion—while capping out-of-pocket drug costs for seniors on Medicare to $2,000 a year and extending expiring subsidies that help 13 million people afford health insurance. By raising corporate taxes, the whole package is paid for, with some $300 billion extra revenue for deficit reduction. Nonpartisan analysts have said the package would have a minor effect on surging consumer prices. Schumer told the Washington Post that the legislation provides “things that Americans have longed for, and couldn’t get done.”
This ought to improve the Dems chances in November……it may even boost Biden to low approval ratings from very poor approval.
More needed doing but I guess we should be thankful that these people did something positive.
I Read, I Write, You Know
“lego ergo scribo”
In Saner Thought 
Reblogged this on It Is What It Is and commented:
INDEED!! … “This ought to improve the Dems chances in November……it may even boost Biden to low approval ratings from very poor approval. More needed doing but I guess we should be thankful that these people did something positive.”
Thanx…I should be happy….but I am no…..chuq
There’s always something, right? I can only … 🤞🏽
For sure chuq
The media is jumping around giving the Dems their due credit for actually getting past Manchin and Sinema on something… but that “something”.. well… I dunno. Be sure and get up to speed on what this bill actually does, because while the efforts of the Dems to actually get something passed has some political merit, not sure I see a lot of bells and whistles here, at least on the short term.
I think what leaves me a bit empty is the idea that there are a fair number of here-and-now issues confronting the nation that truly could use addressing… like, immigration/border… election laws… Medicare issues like eye care and dental… plugging holes that allow attempts and responsibility for insurrection attempts… abortion codifying (even though it’s still subject to Supreme Court decision)… the list can go on. A lot of what this bill does doesn’t even take effect for years yet. I understand that allowing Medicare to negotiate drug pricing.. that doesn’t start for another four years.. and even then it’s only on 10 common drugs. In ten years that jumps to 20 drugs. (what’s the sense in that delay?)
Yeah, ok, that 349 billion for global environment is a great start but that stuff is also dribbled out over time so the effects will be realized years from now.
I’m sorry… I’m usually a bigger-picture kinda guy in my politics but the nation is in the middle of some real moral, social, and political “hurt” right now and looking at this bill as a big flag waving event seems a bit shallow to me right now. I am sure the bill just passed will have some big impacts down the line… but I’m just trying to get past the next two election cycles… and if I am feeling this way there’s gotta be a lot of voters out there thinking similar.
I agree this nation needs help…..and yet we spend more time worrying about other things…..this will do little to ease the people’s burden. chuq
Now we have this FBI warrant search of Mar-A-Lago, which will likely send Trumpsters seething. The hits just keep on comin’, old buddy.
Got a good chuckle out of this news. chuq
Biden definitely needs something to boost his ratings. I’m not so sure this will do it though.
Best wishes, Pete.
He is rising slightly in the polls….so looking good for now chuq