HomeBusinessDemocrats’ big climate, health care and tax package clears major Senate hurdle

Democrats’ big climate, health care and tax package clears major Senate hurdle

WASHINGTON — The Senate voted Saturday to advance a sweeping climate and economic bill with the support of all 50 Democrats, bringing long-stalled elements of President Joe Biden’s agenda one step closer to reality.

The procedural vote on the filibuster-proof package was 51-50, with all Republicans opposing the motion to begin debate and Vice President Kamala Harris casting the tie-breaking vote. If that support holds, it is enough to pass the bill through the Senate and send it to the House in the coming days.

The legislation, called the Inflation Reduction Act, includes major spending to combat climate change and extend health care coverage, paid for with savings on prescription drugs and taxes on corporations. It puts hundreds of billions of dollars toward deficit reduction.

“This is one of the most comprehensive and impactful bills Congress has seen in decades,” Senate Majority…

Read more at www.cnbc.com

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