Angus Mordant/Bloomberg via Getty Images
© 2024 Blaze Media LLC. All rights reserved.
Kamala Harris casts tie-breaking vote to pass Democrats’ $740 billion climate bill
August 08, 2022
On August 7, the U.S. Senate passed the Inflation Reduction Act of 2022, which is a repackaged version of the Democrats’ original $3.5 trillion "Build Back Better" bill. Its estimated cost is $740 billion. According to White House climate adviser Gina McCarthy, "This is an absolute historic investment in climate change."
Vice President Kamala Harris cast the tie-breaking vote after an all-night session. The final votes fell along party lines, with all 50 Republicans opposing the bill.
The bill was supported by previous holdouts Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.). Of Manchin's decision, Senate Minority Leader Mitch McConnell (R-Ky.) said, "He made a terrible deal. ... How he can defend this from a West Virginia point of view, or think of it as a centrist kind of agreement, is astonishing."
The alleged aim of the bill is to lower prescription drug costs, help pay for health insurance, and invest in addressing so-called climate change. The bill assigns nearly $400 billion for green initiatives (e.g., tax credits for buying electric vehicles as well as for the manufacture of wind turbines), caps out-of-pocket drug costs for seniors on Medicare to $2,000 a year, and extends expiring Obamacare subsidies.
McConnell defended Senate Republicans' opposition to the proposed drug pricing provisions, suggesting that they were "socialist price controls."
The act also includes a provision that a 15% minimum tax be imposed on corporate profits of $1 billion or more a year, although seven Democrat senators — Kyrsten Sinema, Jon Ossoff, Raphael Warnock, Catherine Cortez Masto, Maggie Hassan, Mark Kelly, and Jack Rosen — joined Republicans in exempting certain firms with private equity backing.
House Speaker Nancy Pelosi indicated that her chamber would “move swiftly to send this bill to the president’s desk,” and it is believed that House votes will be taken Friday.
While Democrats celebrated the result of the vote, others have voiced doubt about the good that the Inflation Reduction Act might accomplish.
West Virginia state Treasurer Riley Moore suggested that this bill will "turbocharg[e] inflation" and announced, "Democrats win. America loses."
In a speech on the Senate floor, Sen. Marco Rubio asserted, “There isn’t a single thing in this bill that helps working people lower the price of groceries, or the price of gasoline, or the price of housing, or the price of clothes. There isn’t a single thing in this bill that is going to keep criminals in jail.” Rubio claimed further that this act ultimately fails to help with “the things working people in this country care about."
Sen. Ted Cruz (R-Texas) suggested that the bill would be disastrous to manufacturing and would make gas prices soar.
\u201cThe Senate Democrats\u2019 spending bill is terrible and they\u2019re bound and determined to ram it through.\n \n\u2705 87,000 new IRS agents.\n \n\u2705 New oil and gas taxes when gas prices are sky high.\n \n\u2705 Disastrous to manufacturing.\u201d— Senator Ted Cruz (@Senator Ted Cruz) 1659886833
Comedian Tim Young questioned whether "printing billions of dollars" is the way to resolve inflation.
\u201cSooo... Just to review: the Inflation Reduction Act, "reduces inflation" by printing billions of dollars, increasing taxes on the middle class... then giving that money to corporations and special interest groups who pretend they have the power to control the weather... got it.\u201d— Tim Young (@Tim Young) 1659925726
Democrat Senator Bernie Sanders admitted that the bill “will in fact have a minimal impact on inflation.”
\u201cGood point.\u201d— Senator Mike Braun (@Senator Mike Braun) 1659830671
Joe Gabriel Simonson suggested that the name of the bill, given the possibility voiced by Sanders that the Inflation Reduction Act may not ultimately reduce inflation, is a "lie."
\u201csincerely believe that if republicans called a bill an inflation reduction act that did not lower the CPI, you\u2019d have historians of fascism on CNN warning about how democracies fall because of lies like these\u201d— Joe Gabriel Simonson (@Joe Gabriel Simonson) 1659917525
Bjorn Lomborg, former director of the Danish government's Environmental Assessment Institute, indicated that notwithstanding the proposed expenditure, there will be virtually no climate benefits.
\u201cImpact of new climate legislation\n\nUnnoticeable: 0.0009\u00b0F to 0.028\u00b0F in 2100\n\nWhy is no media describing just \ud835\uddf5\ud835\uddfc\ud835\ude04 \ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude01\ud835\uddf9\ud835\uddf2 your $369 billion will achieve?\n\nInstead, we're being told: \n\n"the most significant legislation in history to tackle the climate crisis" (Biden)\n\n\ud83e\uddf5\u201d— Bjorn Lomborg (@Bjorn Lomborg) 1659457145
Want to leave a tip?
We answer to you. Help keep our content free of advertisers and big tech censorship by leaving a tip today.
Want to join the conversation?
Already a subscriber?
Joseph MacKinnon is a staff writer for Blaze News.
HeadlinesInGIFs
more stories
Sign up for the Blaze newsletter
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.
© 2024 Blaze Media LLC. All rights reserved.
Get the stories that matter most delivered directly to your inbox.
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.