Senate Democrats Strike a Deal on Climate, Health and Tax Bill

Senate Democrats have been working to pass a significant legislative package to support President Biden’s domestic policy agenda for over a year. Last week, Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV) ironed out the details of a narrowly defined tax, health, and climate package. The $740 billion bill, titled the Inflation Reduction Act of 2022, allows Medicare to negotiate with pharmaceutical manufacturers to lower prescription drug costs for certain drugs; extends Affordable Care Act (ACA) health care subsidies for three years; closes tax loopholes, and enforces the IRS tax code. Other health care provisions, including those benefitting health centers, were not included in this narrow package. Senators are planning to vote on the legislation before they leave for August recess. Senate Democrats need all 50 Democrats on board to pass the bill. Click here to read Senator Manchin’s press release on the Inflation Reduction Act of 2022.