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Sen. Kyrsten Sinema said on Thursday she would “proceed” with the Democrats’ social spending and tax bill, after previously holding the deal struck by Sen. Joe Manchin and Senate Majority Leader Chuck Schumer.
“We agreed to remove the deferred interest tax provision, protect advanced manufacturing and boost our clean energy economy in the Senate budget reconciliation legislation,” said Sinema, D-Arizona. “Subject to parliamentary review, I will move forward.”
MANCHIN CLAIMS DEMOCRATIC SOCIAL SPENDING AND TAX BILL IS FILLED WITH GOP PRIORITIES
Sinema was widely seen as the last senator needed for Democrats to pass the climate, energy, health care and tax plan, which, if it becomes law, will cap more than a year of intra-state negotiations. left. With her backing, Schumer said he expected all 50 Democrats to vote for the measure.
“I am happy to announce that we have reached an agreement on the Inflation Reduction Act which I believe will receive the support of the entire Senate Democratic conference,” Schumer said. “The final version of the reconciliation bill, which will be introduced on Saturday, will reflect this work and bring us closer to the of this historic legislation. .”
MANCHIN CHALLENGES DATA SHOWING SOCIAL SPENDING BILL WILL RAISE TAXES ON MIDDLE CLASS DURING RECESSION
Democrats plan to pass the legislation using a process called budget reconciliation, which allows them to bypass the Senate’s 60-vote filibuster threshold to pass legislation along party lines. Manchin killed previous reconciliation efforts last year, at the time called “Build Back Better,” which were far more expensive than the bill he proposed with Schumer last week.
Schumer announced Thursday that the Senate would reconvene Saturday afternoon with the voting plan to begin debate on the bill. If all 50 Senate Democrats support the bill and remain healthy and able to vote, they can pass it over strenuous objections from the GOP.
Vice President Harris could break ties on any 50-50 vote.
The biggest problem Republicans say they see with the bill are tax increases, the burden the Joint Committee on Taxation will indirectly fall on Americans in nearly every tax bracket. The increases will also hit manufacturing companies hard, Republicans say, hot on the heels of the Senate passing a bill aimed at boosting U.S. manufacturing.
The legislation is expected to spend $433 billion in total and generate $739 billion in tax revenue.
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“People who work in these companies, and remember half of that is going to fall on the manufacturers, they’re going to see their wages and benefits cut because of this taxation at a time when they’re really struggling to keep up with the running inflation,” said Sen. Rob Portman, R-Ohio.
Another hurdle that Democrats are awaiting results from is scrutiny by Senate Congresswoman Elizabeth MacDonough, who is currently reviewing the legislation to make sure it complies with the Byrd Rule. This rule states that the provisions of the reconciliation bill must generally deal with taxes and public expenditures and cannot be mere political prescriptions. However, the results of his review are not expected to condemn the bill.
Once Democrats vote to begin considering the bill, they will also have to pass a “vote-a-rama,” when senators will be allowed to propose unlimited amendments to the legislation. This usually results in dozens of amendment votes in a marathon session that can last most of the day. But if Democrats stick together, they’re controlling the bill’s passage, despite the best efforts of the GOP.