Senate expected to pass Democrat tax and climate bill


The Senate voted 51-50 late Saturday to move forward with a tax and climate bill that includes several elements of President Biden's original Build Back Better agenda.
The final vote on the legislation is likely to take place Sunday, with Vice President Kamala Harris expected to cast the tie-breaking vote in her party's favor. The House is expected to approve the bill by the end of the week.
The Inflation Reduction Act of 2022 aims to increase revenue by over $700 billion. According to The Wall Street Journal, most of these funds will come from "a 15% minimum tax on large, profitable corporations and money generated by enhancing tax-collection efforts at the Internal Revenue Service." Around $430 billion of that new revenue will go to green energy subsidies and to extending a pandemic-era expansion of the Affordable Care Act. The rest will be used to reduce the deficit.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Senate Majority Leader Chuck Schumer called the legislation "a major win for the American people." Sen. Marco Rubio (R-Fla.) tweeted that Democrats were "out of touch" and that they should prioritize "high prices, crime, and an open border" over "electric cars, solar panels," and new IRS agents.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Grayson Quay was the weekend editor at TheWeek.com. His writing has also been published in National Review, the Pittsburgh Post-Gazette, Modern Age, The American Conservative, The Spectator World, and other outlets. Grayson earned his M.A. from Georgetown University in 2019.
-
What led to Poland invoking NATO’s Article 4 and where could it lead?
TODAY'S BIG QUESTION After a Russian drone blitz, Warsaw’s rare move to invoke the important NATO statute has potentially moved Europe closer to continent-wide warfare
-
Africa could become the next frontier for space programs
The Explainer China and the US are both working on space applications for Africa
-
Video games to curl up with this fall, including Ghost of Yotei and LEGO Party
The Week Recommends Several highly anticipated video games are coming this fall
-
Russia slams Kyiv, hits government building
Speed Read This was Moscow's largest aerial assault since launching its full-scale invasion in 2022
-
China's Xi hosts Modi, Putin, Kim in challenge to US
Speed Read Chinese President Xi Jinping hosted Indian Prime Minister Narendra Modi, Russian President Vladimir Putin and other Asian leaders at an SCO summit
-
Russian strike on Kyiv kills 23, hits EU offices
Speed Read The strike was the second-largest since Russia invaded in 2022
-
UN votes to end Lebanon peacekeeping mission
Speed Read The Trump administration considers the UN's Interim Force in Lebanon (UNIFIL) to be a 'waste of money'
-
Israeli double strike on Gaza hospital kills 20
Speed Read The dead include five journalists who worked for The Associated Press, Reuters and Al Jazeera
-
China is silently expanding its influence in American cities
Under the Radar New York City and San Francisco, among others, have reportedly been targeted
-
Kyiv marks independence as Russia downplays peace
Speed Read President Vladimir Putin has no plans to meet with Zelenskyy for peace talks pushed by President Donald Trump
-
Trump halts Gaza visas as Israelis protest war
Speed Read Laura Loomer voiced her concerns over injured Palestinian kids being brought to the US for treatment and a potential 'Islamic invasion'