A parliamentarian signs a huge democratic spending plan

The senator largely left Democrats’ climate-related legislation, health care and massive taxes, paving the way for lawmakers to consider a spending bill Saturday after securing the final Democrats’ support.

“This is a huge victory for the American people,” Senate Majority Leader Chuck Schumer of New York said of the parliament’s decision to allow part of the legislation – which allows Medicare to negotiate drug prices – to go ahead.

Parliamentarian Elizabeth McDonough has been studying the components of the final bill to see if it fits with a procedural gambit called Reconciliation that allows certain budget-related legislation to pass by a simple majority instead of the 60 votes normally required to end the debate.

MacDonough decided to a Submit This would force drug companies to pay rebates if their prices rise above inflation. Senator Ron Wyden, the Oregon senator and chair of the finance committee, announced that she has ruled that the clean energy tax portion of the bill can go ahead.

Now, Democrats are preparing to vote on a proposal to advance reconciliation legislation in a rare weekend session scheduled for Saturday afternoon as plans are implemented that will deliver on years-old party promises.

The anticipation appears to have spread to the other chamber as well, where the House of Representatives is scheduled to meet from August recess next Friday to consider the bill, pending Senate approval.

With a newly drafted agreement from remaining Democratic Senator Kirsten Senema, Schumer said he expected the bill “to have the full support of the Democratic Caucus.”

But the deal with Cinema, which announced its support for a revised version of the legislation after more than a week of silence in the wake of a surprise deal between Senator Joe Manchin of West Virginia and Schumer that revived the package, did not leave the legislation intact.

As expected, Sinema won’t move forward without eliminating provisions for the carry forward interest tax – which allows investment managers to pay a lower tax rate on their income.

“Cinema said it wouldn’t vote for the bill — not even go ahead — unless we removed it,” Schumer said Friday of the tax provision. “So we had no choice.”

political cartoons

In the latest agreement, Schumer said senators have also added a selective tax on stock buybacks, which will bring in $74 billion.. A group of senators also announced Friday that $4 billion in droughts will be added to the bill as well.

“Make no mistake — the agreement preserves core components of the Inflation Reduction Act,” Schumer said, adding that Democrats are now “one step away from enacting this landmark legislation into law.”

But Republicans don’t seem intent on letting the bill pass without a fight.

After the initial vote to move the legislation forward on Saturday, senators will likely engage in a long night of debate — up to 20 hours — before voting on a slew of amendments in the so-called “Vote in Rama” announced by the senator. “It’s going to be like hell,” South Carolina’s Lindsey Graham said Friday.

The amendments are expected to come mainly from Republicans, and Graham said he hopes Democrats will be impressed with the proposals, causing them to abandon their original course.

“These votes are going to be tough for Democrats,” Senator John Thune of South Dakota said Friday of the upcoming vote on the amendments.

Since Manchin announced his support for the revived legislation last week, Republicans have questioned whether the Inflation Cut Act fits its name, arguing that it raises inflation or taxes, while making the economic situation worse overall.

Schumer said Friday that Republicans are “getting rid of the bottom of the barrel to justify opposing the bill.”

“They don’t seem to put a glove on this,” Schumer said. “They don’t know what to do.”

#parliamentarian #signs #huge #democratic #spending #plan

Leave a Comment

Your email address will not be published.