Party leaders hope approval of Inflation Reduction Act will boost their prospects in the midterm elections this November
the Senate in a party-line vote of 51 to 50, with Vice-President Kamala Harris breaking the tie in the evenly divided chamber.
While the Build Back Better Act was much larger in scope, Democrats have still celebrated the climate and healthcare provisions included in their compromise bill. In terms of healthcare provisions, the bill will allow Medicare to start negotiating the price of certain expensive drugs and will cap out-of-pocket prescription drug costs at $2,000 a year for those in the government insurance program for seniors and some with disability status. It will also alleviate premium hikes for those who receive insurance through the Affordable Care Act marketplace, the federal program informally known as Obamacare.
But Republicans have dismissed Democrats’ arguments that the bill will help ease inflation, accusing them of ramming through a reckless spending spree that will do little to aid working Americans.
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