The Senate on Sunday afternoon passed Democrats’ Inflation Reduction Act, a $750 billion health care, tax and climate bill, in a significant victory for President Joe Biden and his party. The final, party-line vote was 51-50, with Vice President Kamala Harris breaking the tie. The package is the product of painstaking negotiations, and its final… Read More
Senator Kyrsten Sinema (D-Arizona) announced Thursday evening that she has reached a deal with Senate Majority Leader Chuck Schumer (D-New York) that could pave the way for Democrats to pass their budget reconciliation package. The deal would remove a provision that would have closed the carried interest loophole from the package that was announced last… Read More
The Senate is on track for a potential weekend vote on the Inflation Reduction Act (H.R. 5376), the massive tax, health care, and climate bill, according to Majority Leader Chuck Schumer (D-New York), but forces beyond his control could alter that timeline. The bill’s biggest roadblock comes from within the Democratic Caucus, with Senator Kyrsten… Read More
The Senate is expected to vote today on a resolution to ratify Finland’s and Sweden’s applications to join NATO as the Western military alliance seeks to strengthen its resolve against the threat posed by Russia. Senate Majority Leader Chuck Schumer, (D-New York), said Tuesday evening that the chamber would vote Wednesday afternoon on the resolution… Read More
The Senate will reconvene at 12:00 P.M. as meetings continue on the Inflation Reduction Act of 2022. Democratic and Republican staffers continue back-to-back private meetings with the Senate parliamentarian which are expected to last through Wednesday. Those huddles with the chamber’s nonpartisan rules referee will help determine whether each piece of the bill conforms with… Read More
The Senate will convene at 3:00 P.M. and is expected to spend the week working on the Inflation Reduction Act, which includes $369 billion in energy security and climate investments and allocates $64 billion to extend Affordable Care Act subsidies for two years, bringing total new spending to $433 billion. The tax reforms in the… Read More
Senate Democrats unveiled a surprise $670 billion spending plan that has the blessing of Senator Joe Manchin (D-West Virginia). It’s an outline to help lower drug prices, give Americans more subsidized health coverage under Obamacare and mitigate climate change. It would be paid for with higher taxes on corporations and some wealthy individuals. To become… Read More
At the conclusion of its policy meeting at 2 P.M. EST, The Federal Reserve is expected to raise its benchmark interest rate by three-quarters of a percentage point for the second straight meeting in an effort to tamp down inflation that’s been running at a four-decade high. The rate-setting Federal Open Market Committee is almost… Read More
The bipartisan bill to bolster domestic semiconductor manufacturing and boost U.S. competitiveness with China has cleared a key Senate vote this morning 64-32, setting it up for final passage in the upper chamber in the coming days. The cloture vote to break the legislative filibuster was originally set for Monday evening but had to be… Read More
The Senate will reconvene at 3:00 P.M. to continue working through legislative items it hopes to accomplish before adjourning next Friday, August 5th until September 6th. The Senate will take up a procedural vote this evening that will determine the future of the bill that would pump $52 billion into the domestic semiconductor industry. The… Read More
