The Senate passed a sweeping Democrat health, tax and
Sunday afternoon and sent it to the House of Representatives. This was a major victory for President Biden and his party.
The final Partisan vote was 51-50, with Vice President Kamala Harris tied.
Inflation Reduction Act
The bill is known as the Inflation Reduction Act, is the largest investment in climate change in US history and would bring about major changes in public health policy.
The legislation would reduce the deficit and offset it with new taxes, including a 15% minimum rate for large corporations and a 1% tax on stock buybacks.
Raise more than $700 billion in government revenue over 10 years, spend more than $430 billion on reducing carbon emissions, and increase Medicare subsidies under the Affordable Care Act.
The result of tough negotiations, the package will give Democrats a chance to achieve key policy goals ahead of the upcoming midterm elections.
The Democrat-controlled House of Representatives will take up the bill on Friday, August 12 and must pass it before Biden enacts it.
Senate Democrats remained united with only 50 seats to pass the bill and used special procedure to pass the bill without the Republican vote.
In a statement Sunday, Biden commended the Senate for passing the bill, thanked House Democrats and touted the bill's climate investments and health provisions.