The Inflation Reduction Act goes to the Senate Indivisibles,
Stop us if you’ve heard this before: A reconciliation package appears to have a clear path through the Senate with support from Sen. Joe Manchin.
We know what you’re thinking: Again? The rug has been pulled out from underneath us before, and you may be feeling more than a little skeptical right now. But, in this instance, Sen. Chuck Schumer got Manchin himself to put his name on the proposed package from the start, and while Manchin’s self-indulgent statement made our eyes roll, it’s clear he is staking his own reputation on this new agreement.
If you haven’t been following along, a few weeks ago, Manchin torpedoed the latest iteration of Biden’s Build Back Better agenda by refusing to support a bill that contained new spending on climate or raised taxes on the wealthy and corporations. After significant backlash and calls for Manchin to lose his chairmanship (including from some of his colleagues in the Senate), he backtracked and stated he needed to see the July inflation numbers before making any steps towards a deal. We won’t pretend to know exactly what was happening in Manchin’s mind, but we’re glad we kept up the pressure together.
Yesterday, Sens. Schumer and Manchin announced that they had reached an agreement on a reconciliation package, including details on how this bill would lower health care and energy costs for families. There’s even legislative text, which is being reviewed by the Senate Parliamentarian. This is real!
Here are the really good things in this bill:
- A 15% Corporate Minimum Tax ensuring the ultra-rich pay their fair share
- Closing the Carried Interest Loophole that is a giveaway to Wall Street investors, and cracking down on wealthy tax cheats
- Investments in cleaner energy solutions that put us on the path toward a 40% reduction in emissions by 2030
- Permission for Medicare to negotiate drug prices (lowering prescription drug prices)
- Continued lower Affordable Care Act premiums for millions of Americans
- And more…
Of course this bill isn’t everything we want, but it is a potential monumental step forward for a reconciliation package we thought was all but scuttled. And as a reminder, because this is reconciliation, Democrats can pass it with just 50 votes in the Senate, meaning Mitch McConnell and his Republican friends will be furious, but there’s nothing they can do to stop it.
But it is only potential. We need to put in the work to make sure it gets across the finish line over the next two weeks:
- Click here to call your senator and tell them they must pass the Inflation Reduction Act of 2022 today! Schumer is calling for this to get on the Senate floor next Wednesday. We have a short window in which to make sure this passes. Call your senators now and let them know that the American people need this to pass without delay.
- Click here to make a $10 donation to Indivisible and support our programs moving forward. We have been hard at work following this legislation (and others) and working to move our priorities forward. Our advantage is our responsiveness, but that responsiveness comes at the continued expense of time and resources. Give today to support Indivisible in doing this and all of our work into the future.
We have less than a week to ensure this bill passes the Senate and can move on to the House. We know it’s been a long fight on these issues, but we cannot risk missing this moment. Let’s get to work today!
In solidarity, Indivisible Team
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