Senate Majority Leader Chuck Schumer (D-N.Y.) said the bill passed last night would be hailed as “one of the defining legislative feats of the 21st century.”
After a year of nail-biting negotiations that seemed to be at a standstill, Senate Democrats approved legislation to reduce output of greenhouse gases and make healthcare more affordable.
The vote was 50-50, along party lines, but Vice President Kamala Harris cast the tie-breaker vote, after a night of arguing and voting on amendments to the bill.
The House will vote on Friday and it is expected to pass.
The passed legislation is a big win for President Joe Biden, as he was able to deliver promised goals of his administration just three months before the crucial November midterm elections.
“It’s been a long, tough and winding road, but at last we have arrived. I know it’s been a long day and a long night. But we’ve gotten it done today,” Senate Majority Leader Chuck Schumer said on the Senate floor.
“After more than a year of hard work, the Senate is making history.”
The huge bill includes $430 billion to fight climate change, boost clean energy, give incentives to farmers to reduce methane emissions, extend the electric vehicle tax credit, and extend health care coverage to millions. It will be paid for with savings on prescription drugs and taxes on corporations. It also applies billions of dollars toward reducing the deficit.
The legislation will allow Medicare to negotiate prices with drug companies and will reduce the costs of drugs for seniors. Those savings will help pay for subsidies as part of the Affordable Care Act, which should help lower the price of insurance premiums in 2023.
The package includes a cap on the price of insulin for seniors on Medicare, but Republicans removed a $35 cap on insulin in the private market, allowing the private market to charge exorbitant prices for insulin sold to people insured privately.
The legislation came together at the last minute after Joe Manchin, Democrat of West Virginia, and Kyrsten Sinema, Democrat of Arizona, made concessions and came on board.