Headline RoundupAugust 8th, 2022

Senate Democrats Pass $739 Billion Climate and Healthcare Bill

Summary from the AllSides News Team

Senate Democrats on Sunday passed a $739 billion budget reconciliation bill across party lines, 51-50, that addresses energy, taxes and health care.

After striking deals with centrist Democrats Sens. Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ), Vice President Kamala Harris cast the tie-breaking vote in the Senate. The legislation, entitled the Inflation Reduction Act of 2022, now moves on to the House of Representatives.

The bill would allocate $369 billion for climate-related infrastructure, expand the Affordable Care Act health care program, and raise $739 billion in revenue by establishing a 15% minimum tax on big corporations. Senate Majority Leader Chuck Schumer (D-NY) on Sunday labeled the Inflation Reduction Act as "one of the defining legislative feats of the 21st century" that he believes will "kick start the era of affordable clean energy in America."

Left-rated coverage praised the bill as the "largest climate investment" in U.S. history and highlighted examples of why it's taken Congress "so long to act" on climate change. Right-rated coverage labeled the legislation as "partisan" and accentuated analysts who said the bill's impact on inflation will be "statistically indistinguishable from zero."

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