简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The U.S. Senate will convene on Saturday as Democrats seek to push through a $430 billion drug pricing, energy and tax bill over Republican objections, Majority Leader Chuck Schumer said on Thursday.
-Democratic U.S. Senator Kyrsten Sinema said on Thursday she agreed to “move forward” on a $430 billion drug pricing, energy and tax bill, subject to a Senate arbiters approval of the bill, which Democrats intend to pass over Republican objections.
Senate Majority Leader Chuck Schumer said earlier on Thursday the chamber would convene on Saturday to vote on a motion to proceed and then begin debate on the bill.
The bill known as the Inflation Reduction Act, introduced last week by Schumer and Democratic Senator Joe Manchin, represents a key priority for Democrats and President Joe Biden ahead of Novembers election battle for control of the U.S. Congress.
With the 100-seat Senate split 50-50, Democrats plan to pass the bill without Republican support through a parliamentary process known as reconciliation.
But they cannot afford to lose support from a single lawmaker. Sinemas agreement was a critical breakthrough. Another worry is COVID-19 – senators can only vote in person, so Schumer will need his full caucus to be present and healthy to pass the measure if Republicans remain unified in opposition.
Sinema said she had reached an agreement with other Democrats to remove a provision that would impose new taxes on carried interest. Without the provision, private equity and hedge fund financiers can continue to pay the lower capital gains tax rate on much of their income, instead of the higher income tax rate paid by wage-earners.
She cautioned that her agreement to “move forward” was subject to the review of the Senate parliamentarian. The parliamentarian has to approve the contents of the bill to allow it to move forward through the “reconciliation” process that Democrats plan to use to bypass the chambers normal rules requiring 60 Senators to agree to advance most legislation.
Schumer, in a statement, said, he believed he now had the votes to pass the bill.
“The agreement preserves the major components of the Inflation Reduction Act, including reducing prescription drug costs, fighting climate change, closing tax loopholes exploited by big corporations and the wealthy, and reducing the deficit by $300 billion,” Schumer said.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
PayPal's PYUSD stablecoin can now transfer across Ethereum and Solana, enhancing flexibility for users through a LayerZero cross-chain integration.
A forex broker named Exnova has recently come to our attention. This broker is registered in Saint Vincent and the Grenadines and started its business in 2021. In this article, we will dig into this broker deeply and provide some information if you are interested.
Capital.com transitions to a regional leadership model as Kypros Zoumidou steps down, promoting Christoforos Soutzis as CEO of its Cyprus operations.
Online trading platform eToro has recently unveiled its latest investment offering—the Global-Edge Smart Portfolio. This new addition to eToro’s extensive portfolio options provides investors with a balanced approach to investing by combining global stocks and bonds, tailored for those looking for growth and stability.