August 8, 2022
D.C. News
  • The Senate passed Democrat’s $740 billion Inflation Reduction Act by a party-line vote of 51-50, with Vice President Harris casting the tie-breaking vote. The legislation includes provisions to reform the tax code, tackle climate change, lower the cost of prescription drugs, and extend Affordable Care Act (ACA) subsidies through 2025. The Senate parliamentarian struck a provision that would require drug companies to limit price increases to the rate of inflation, ruling that it could only apply to Medicare and not to the private health insurance market. She also nixed Senator Raphael Warnock’s proposal to cap out-of-pocket insulin costs at $35. The House is expected to take up the legislation on Friday. (Articles here, here, here, here, here, here, here, and here)