It’s up to House Speaker Pelosi and her Democrats to go along with the Senate approved bill…..
Dubbed the Inflation Reduction Act of 2022, the package would authorize the biggest burst of spending in U.S. history to tackle global warming — roughly $370 billion to reduce greenhouse gas emissions across the economy by 40 percent by the end of this decade. The proposal also would make good on Democrats’ years-old pledge to reduce prescription drug costs for the elderly….
The package is the byproduct of the political realities in the narrowly divided Senate, where Republicans stood immovably opposed to the bill and Democrats had to negotiate among themselves to shepherd it to the chamber floor. It hinged on a breakthrough deal negotiated in late July between Schumer and Sen. Joe Manchin III (D-W.Va.), a moderate who nearly eight months ago single-handedly scuttled a previous attempt to advance his party’s agenda. And its fate teetered at one point because of a last-minute snag with Sen. Kyrsten Sinema (D-Ariz.).
To assuage Manchin, Democrats had to give up some of their more ambitious plans — free prekindergarten for all, paid family and medical leave for workers nationwide — and offer new support for fossil fuels. To satisfy Sinema, meanwhile, party leaders repeatedly dialed back their proposed tax policies, particularly those targeting wealthy investors….