What's next for the Inflation Reduction Act?
Senate Democrats passed the Inflation Reduction Act, which will head to the House for a vote later this week.
Video Transcript
- Vise President Kamala Harris cast the tie-breaking vote to pass the inflation Reduction Act over the weekend. The bill fulfills a bunch of President Biden's campaign promises, including making the largest single investment in climate change and US history. Some things did get cut out to make it happen, like one amendment that would have capped insulin prices at $35 a month for those on private insurance, but that failed after only seven Republicans voted in favor of it.
They also really needed the vote of Senator Kyrsten Sinema, who negotiated with Democrats to remove some items, including higher taxes on private equity. Senator Bernie Sanders also tried to bring back things like paid family leave and free pre-K, but all of those failed, too. Now that the bill made it through the Senate, it will almost surely get passed at the House, and then add to President Biden's desk to become law.
