The $740 billion Inflation Reduction Act is headed to President Joe Biden’s desk, signaling a big win for the Democrats ahead of the midterm elections.
The sweeping tax, climate, and health care bill passed through the House of Representatives in a 220-207 party-line vote, with every Democrat voting in favor and four Republicans not voting.
The House passage came just four days after the bill passed through the Senate in another party-line vote, wherein Vice President Kamala Harris cast the tie-breaking vote.
House Speaker Nancy Pelosi (D-CA) said the Inflation Reduction Act “saves the planet while keeping more money in your pockets.”
“This bill, the Inflation Reduction Act, a package for the people, increases the leverage of the public interest over the special interests and expands health and financial security now and for generations to come,” Pelosi said.
Senate Democrats have been negotiating the package for more than a year, The Hill reported.
House Minority Leader Kevin McCarthy (R-CA) had argued against the bill in a 50-minute speech on Friday, calling it “misguided.”
“Democrats, more than any other majority in history, are addicted to spending other people’s money, regardless of what we as a country can afford,” McCarthy said from the House floor.
“Today, now they are choosing to end the session by spending half-a-trillion dollars more of your money, raising taxes on the middle class, and giving handouts to their liberal allies.”
Source: The Hill