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
Both the House and Senate are not in session today. The Senate will reconvene at 3:00 P.M. on Monday, July 25th, while the House will return on Tuesday, July 26th at 6:30 P.M. The House is expected to recess next Friday, July 29th and not return for votes until September 13th. When the Senate reconvenes… Read More
The Senate convened at 10:00 A.M. and resumed consideration of the Message accompanying H.R.4346, the legislative vehicle for the CHIPS+ legislation. Senate Majority Leader Chuck Schumer (D-New York) filed cloture on the bill aimed at boosting the U.S. semiconductor industry on Wednesday night setting up pivotal test votes next week. The Senate “chips-plus” bill includes… Read More
The Senate reconvened at 10:00 A.M. after voting last night to advance a slimmed-down version of its bill designed to boost U.S. semiconductor competition with China. The bill cleared a key procedural hurdle Tuesday evening in a 64-34 vote even as lawmakers worked to finish various sections of the legislation. The bill, which would provide… Read More
The Senate convened at 10:00 A.M. and is expected to take an important procedural vote on a bill that would authorize more than $50 billion in subsidies and tax credits for U.S. chip makers. The measure, known as the Chips for America Act, is a pared-down version of a broader set of bills designed to… Read More
Senator Joe Manchin (D-West Virginia) on Wednesday paused negotiations with Senate Majority Leader Chuck Schumer (D-New York) on the budget reconciliation bill saying that it “needs to be scrubbed much better” after a new report showed that inflation hit 9.1 percent in June. Manchin said he’s not sure if he can agree to anything beyond… Read More
