WASHINGTON — Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less ambitious than Preside...
Progressive Sen. Bernie Sanders, I-Vt., offered amendments to further expand the legislation’s health benefits, and those efforts were defeated. Most votes were forced by Republicans and many were designed to make Democrats look soft on U.S.-Mexico border security and gasoline and energy costs, and like bullies for wanting to strengthen IRS tax law enforcement.
It was the bill’s chief protection for the 180 million people with private health coverage they get through work or purchase themselves. Under special procedures that will let Democrats pass their bill by simple majority without the usual 60-vote margin, its provisions must be focused more on dollar-and-cents budget numbers than policy changes.
The measure’s final costs were being recalculated to reflect late changes, but overall it would raise more than $700 billion over a decade. The money would come from a 15% minimum tax on a handful of corporations with yearly profits above $1 billion, a 1% tax on companies that repurchase their own stock, Sinema forced Democrats to drop a plan to prevent wealthy hedge fund managers from paying less than individual income tax rates for their earnings.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senate Democrats approve big Biden deal; House to vote nextBREAKING: Senate Democrats passed an election-year economic bill package focused on climate, taxes and health care with a tie-breaking vote from Vice President Kamala Harris.
Read more »
Senate opens debate on Biden-backed Inflation Reduction ActThe Inflation Reduction Act of 2022 is up for debate on the Senate floor. A final vote could come soon.
Read more »
Dems push Biden climate, health priorities toward Senate OKThe Senate is working through the night and into the morning as Democrats push their election-year economic package toward passage.
Read more »
Dems push Biden climate, health priorities toward Senate OKDemocrats are driving their election-year economic package toward Senate approval.
Read more »
Dems push Biden climate, health priorities toward Senate OKDemocrats are driving their election-year economic package toward Senate approval
Read more »
Dems Push Biden Climate, Health Priorities Toward Senate OKDemocrats are driving their election-year economic package toward Senate approval.
Read more »