Sinema backs Inflation Reduction Act, giving Biden the votes for Senate passage

Another big score for Biden, the Inflation Reduction Act, which has lots of good stuff such as climate control provisions, deficit reduction, drug prices, to name a few.

I'm sure the radical right will bellyache 'till kingdom come, but, I would expect nothing less from that crowd. And, while we're doing clichés, I say 'Damn the torpedoes, full speed ahead".

Congrats to Biden, this is what leadership is all about, and the naysayers can natter all they want, Dems know what America wants.

And the nice thing about it, it's a BR, and not subject to filibuster.

When Sinema says 'subject to parliamentary review', the Senate Parliamentarian will merely make sure all the items in the bill have budgetary impact, as required by the rules on Budget Reconciliation. I'm pretty sure Schumer has that figured out correctly, at the outset, so this looks like it's going to sail nicely through congress.


https://www.usatoday.com/story/news...ction-act-senator-democrats-vote/10234906002/

WASHINGTON – Sen. Kyrsten Sinema, D-Ariz., said Thursday that she would "move forward" on a sweeping package of initiatives to combat climate change, lower drug prices and pare back the deficit, giving Senate Democrats the votes they need to pass the Inflation Reduction Act.

Sinema, the last Democratic holdout on the bill, said she negotiated the removal of a provision to increase taxes on carried interests targeting wealthy investors, resolving a key difference that had held back her support.

"Subject to the parliamentarian's review, I'll move forward," Sinema said in a statement.

Her backing sets up a final version of the bill to be introduced Saturday and the likelihood of a major legislative win for President Joe Biden.

 

Quite a week for Joe


528k July jobs added
-Unemployment at 3.5% (50-year low)
-Zawahiri killed
-CHIPS Act passes
-PACT Act passes
-Inflation Reduction Act deal
-Gas hits 50+ day low (median US price below $4/gal)
-Kansas protects abortion

And he oversaw it all with COVID.

 

Inflation Reduction Act

The 2021 reconciliation bill, American Rescue Plan, cost nearly $2 trillion and added as much as 3 percentage points to inflation. Dems denied responsibility for the inflation crisis and pushed for another blowout bill, this time with hundreds of billions in tax hikes. Congress’ nonpartisan Joint Committee on Taxation says it will raise taxes on every income bracket above $30,000 per year. https://www.finance.senate.gov/imo/media/doc/jct_distributional_effects_inflation_reduction_act.pdf

 

How many percentage points were added to inflation by Trump's CAREs act ($2.2 trillion) and his tax cut ($1.5 trillion)? Inquiring minds would like to know.

 

His graph has nothing to do with his link. It is BS.

 

I was thinking the very same. But it won't stop the Right from complaining that the Dems are doing nothing for America and everything to hurt it. McConnell doesn't seem up to date or current with his info. He continues to complain about things (like gas prices) that are turning around. He doesn't think that healthcare costs matter to Americans.

I'm hoping Dems, when campaigning, can counter the crazies that have been nominated on the Right with the policies that are helping everyday Americans.

 

Inflation is world wide, so what, Biden caused inflation all over the world?

No, it was caused by nations enacting stimulus packages to prevent massive deflation. Thing is, it's impossible to know how much is exactly needed so they tend to overcompensate, causing inflation. Inflation is hte price we paid for the stimulus, which was equally contributed by Trump and Biden and the rest of the world. Gas is coming down ,and that will depress prices in the coming months.

 

Don't worry about that loser.... The typical MAGA response to any solvable problem is "We didn't cause it (lie) and we cannot fix it (truth)"

On Sinema, I think it needs to be remembered that she still needs to be primaried in 2024, since she's the only holdout on what everybody (even Orange Goofus) calls a ridiculous tax loophole...

Beyotch gotta go....

But good deal for Joe.... both of em...