manchin, Schumer announce climate/prescriptions deal to come before Senate

[butters]

https://www.msn.com/en-us/news/poli...pc=U531&cvid=20bc613a91514f2cea523864eb62de61

The deal would remove a provision closing the so-called carried interest loophole from the package announced last week by Schumer and Sen. Joe Manchin (D-W.Va.).

Sinema said she and Schumer have also reached agreement on protecting manufacturing from the impact of a proposed 15 percent corporate minimum tax, which business leaders in Arizona warned would dampen economic growth.

sinema/manchin agreement should see movement of bill to pass on reconciliation

still protecting the rich, sinema; can't allow those donations to your campaign drop off, can we?

 

[butters]

Removing carried interest knocks out roughly $14 billion in revenue from Manchin's bill. But a Democrat familiar said that a 1% stock buyback tax had been added to the legislation. It would impose a 1% tax when a public firm purchases its own shares trying to enrich shareholders. It's expected to raise a lot more money, the person said on condition of anonymity.

let's hope so

https://www.msn.com/en-us/news/poli...pc=U531&cvid=60ac0215112142d898bd83e9dbe5b209

 

[ll74]

Just saw Sinema signed off. Schumer has said he is being this for a vote on Saturday. I think the house will move quickly, though we'll definitely have a signed bill by labor day.

 

[butters]

Just saw Sinema signed off. Schumer has said he is being this for a vote on Saturday. I think the house will move quickly, though we'll definitely have a signed bill by labor day.

she has... there are rumbles now about Sanders throwing a wrench into the proceedings. i know the bill's dropped a lot of what he wanted, which (potentially) cold be brought up in a different bill) but will he deliberately tank this? i find it hard to believe and will be disgusted if he does.

 

[butters]

Biden's poll nos. have bounced back virtually overnight from 36% to 44%

 

[butters]

https://www.businessinsider.com/man...rice-growth-moodys-analytics-2022-8?IR=T&r=US
moodys analytics says deal will help cool inflation


https://www.msn.com/en-us/news/poli...sedgntp&cvid=9bdafd52b9e34e58aa5cbfd6a510b5ed

Opponents argue buybacks take money out of workers' pockets and the broader economy. This week, the head of a flight attendants' union argued that the billions spent by airlines on buybacks could exacerbate travel chaos.

In a Twitter thread, Chuck Marr, VP of Federal Tax Policy at the Center on Budget and Policy Priorities, described the move as an excellent policy that would raise $125 billion over 10 years, and target a large proportion of shareholders based outside the US.

Kimberly Clausing, a tax professor at the UCLA School of Law and former senior Treasury Department official, previously told Insider that the average American's tax bill is "absolutely" not going to be affected under the legislation. "Are you a big corporation that earns over a billion dollars and pays less than 15%? If not, there's no increase in your taxes," she said.

 

[butters]

Senator Ralph Warnock to introduce amendment:

He'll be introducing an amendment that would offer government-funded health insurance to 4 million people with earnings below the federal poverty level, his office confirmed to Insider.

Warnock will introduce the amendment when the Inflation Reduction Act undergoes "vote-a-rama," a marathon session of amendment votes that could end up changing the final draft of legislation. The vote-a-rama could happen as soon as this weekend.

https://www.msn.com/en-us/news/poli...sedgntp&cvid=9bdafd52b9e34e58aa5cbfd6a510b5ed

 

[BabyBoomer50s]

Suck it up America. What’s a few hundred billion more in wasteful spending on top of the trillions that have been spent since Covid hit? At least Sinema stripped the worst aspects of the investment tax elements out of this latest binge.

 

[Kindfarmer]

https://www.msn.com/en-us/news/poli...pc=U531&cvid=a488f8d2f3f94b758e334990e54bbd25



jobs, a cutting of reliance on China to produce stuff vital to America, and a clear looking to the future

Bernie may have a point about the money going to already wealthy companies, but i don't see how this can be achieved as quickly and efficiently as it might be by not using those same companies. Making sure they pay their taxes might mitigate Bernie's issues? I don't know enough about it. On the face of it, though, it's another win for President Biden's agenda and good for the country.

despite a pandemic, despite roughly a third of the population suffering from believing trump even now, despite a determined-to-block all they can republic force in both houses, despite 'record low' approval polls, Biden's getting things done. Bit by bit, not all we might want to see get done, but there's movement forward.

As a necessary Democrat, more corporate Socialism isn’t the answer. Answer is holding them accountable or following #GreenParty.

 

[Kindfarmer]

Suck it up America. What’s a few hundred billion more in wasteful spending on top of the trillions that have been spent since Covid hit? At least Sinema stripped the worst aspects of the investment tax elements out of this latest binge.

Of which at least 70%, meeting deficit spending, is directly accountable to the GOP……. You were saying?

 

[butters]

Elizabeth MacDonough, the chamber's nonpartisan rules arbiter, said lawmakers must remove language imposing hefty penalties on drugmakers that boost their prices beyond inflation in the private insurance market. Those were the bill's chief pricing protections for the roughly 180 million people whose health coverage comes from private insurance, either through work or bought on their own.

Other major provisions were left intact, including giving Medicare the power to negotiate what it pays for pharmaceuticals for its 64 million elderly recipients, a longtime goal for Democrats. Penalties on manufacturers for exceeding inflation would apply to drugs sold to Medicare, and there is a $2,000 annual out-of-pocket cap on drug costs and free vaccines for Medicare beneficiaries.

Erasing that language will cut the $288 billion in 10-year savings that the Democrats’ overall drug curbs were estimated to generate — a reduction of perhaps tens of billions of dollars, analysts have said.

Schumer said MacDonough's decision about the price cap for private insurance was "one unfortunate ruling.” But he said the surviving drug pricing language represented “a major victory for the American people" and that the overall bill “remains largely intact."

https://www.msn.com/en-us/news/poli...pc=U531&cvid=a548f163bbcc4b89b13189c1d2d493cf

 

[jaF0]

So, do a separate bill.

 

[butters]

chuck grassley whines about missing his family reunion for a second time because of this bill... other have little sympathy for that
https://www.msn.com/en-us/news/poli...pc=U531&cvid=a548f163bbcc4b89b13189c1d2d493cf
grassley:

“Each Dec Schumer puts out schedule for Senate I set Grassley family reunion based on schedule,” he wrote in his complaint. “For 2nd yr in row I won’t be at reunion I’m in DC to fight Dems irresponsible tax&spend; bill. Need a Republican majority to hv schedule we can count on & A RESPONSIBLE FISCAL AGENDA.”

one of the replies:

“Sir, I could not care less about your vacation,” wrote Charlotte Clymer, a well-known writer, LGBTQ activist, and veteran. “Ask any service member who’s had leave approved for a family vacation and then had it cancelled at the last minute because of needs of the unit. If our military can be called on to do this, so can you. Stop whining and do your job.”

worth reading the others. lots of funny

https://twitter.com/x/status/1555614300563292160

 

[butters]

So, do a separate bill.

i think that must be the way forward for stuff that's been dropped. Sander's needs to vote this through then get behind other bills to pass what should have been included to help more people.

 

[butters]

https://twitter.com/x/status/1555615762596888577

 

[jaF0]

chuck grassley whines about missing his family reunion for a second time because of this bill... other have little sympathy for that

Somebody got that Twit on blast?

Tell him about the PA volunteer firefighter that responded to a house fure last night and found 10 of his family members dead.

 

[butters]

https://twitter.com/ClureDeb
Deb McClure
​

Stop! We’re talking about Chuck’s need for a Republican majority so he can work less, we can pay more and HE can make it to his family reunion

 

[butters]

Warnock to challenge likely parliamentarian ruling about the $35 Insulin cap, which would require 10 republican votes to make it overturn that ruling. A cynical challenge, perhaps, but one where every republican not voting for the cap is then on record as withholding that from the American public... a useful tool come November.

https://www.msn.com/en-us/news/poli...pc=U531&cvid=e62c252f50b14364aaf961627e753365

 

[butters]

The Senate voted 51 to 50 to proceed to the 755-page bill, after Vice President Kamala Harris arrived at the Capitol to cast the tie-breaking vote.

The vote puts the bill on a trajectory to pass the Senate sometime Sunday, barring an unexpected setback, such as the sudden absence of a Democratic senator.

https://www.msn.com/en-us/news/poli...pc=U531&cvid=da04251bf7234155bfdffa20b8f754d2

 

[butters]

The procedural vote sets up 20 hours of debate to be divided evenly between Democrats and Republicans followed by an open-ended series of amendment votes, known as a vote-a-rama.

Members of both parties, however, predict they will yield most of the time back to move more quickly to considering amendments.

Senate Republicans expect votes on between 40 and 50 amendments.

A final vote will happen sometime Sunday

 

[butters]

The Senate on Sunday passed the Inflation Reduction Act (IRA) along party lines, 51-50, handing Democrats a crucial legislative win as the midterm cycle ramps up -- despite GOP objections at the billions in spending and drug pricing reforms.

The sprawling climate, tax and health care legislation is now set up for quick passage in the Democratic-controlled House, with timing still to be announced, before President Joe Biden signs it into law.

https://www.msn.com/en-us/news/poli...sedgntp&cvid=22fdd9f9846f4dd6bce500a54b6ccd05

 

[ll74]

https://www.msn.com/en-us/news/poli...sedgntp&cvid=22fdd9f9846f4dd6bce500a54b6ccd05

Love that they passed it so quickly. This will be on Biden's desk by next weekend.

 

[butters]

Love that they passed it so quickly. This will be on Biden's desk by next weekend.

not even 2 years into his presidency, battling covid personally and at a nationwide level, dealing with all the fallout from supply disruptions from covid and the Russian invasion of Ukraine, with a 50-50 Senate House, inflation, talks of recession and more, President Joe Biden has been successful in seeing the passage of the 2 largest bills of American aid. Bringing American infrastructure into the 21st century, helping climate like none before (even if it doesn't go far enough), creating good-paying jobs... ALL in 1 year and 7 months. GO JOE!!!

not bad for a guy they say has dementia, and is called sleepy joe and brandon.

now we need the trifecta of seeing the DOJ send that orange fuck to prison

 

[butters]

"This is a planetary emergency, this is the first time that the federal government has taken action that is worthy of the moment," he told reporters upon leaving the final vote. "This is the biggest climate action that any country has ever taken."

His voice broke when he added, "Now, I can look my kids in the eye and say we're really doing something about the climate."

https://www.msn.com/en-us/news/poli...sedgntp&cvid=6e141be32f9142a3adfff2e1b817f72d

 

[butters]

If the bill’s policies work as intended, it would push American consumers and industry away from reliance on fossil fuels, penalize fossil fuel companies for excess emissions of methane, and inject needed funds into pollution cleanup.

The bill uses tax credits to incentivize consumers to buy electric cars, electric HVAC systems, and other forms of cleaner technology, leading to less emissions from cars and electricity generation, and includes incentives for companies to manufacture that technology in the United States. It also includes money for a host of other climate priorities, like investing in forest and coastal restoration and in resilient agriculture.

These investments, spread out over the next decade, are likely to cut pollution by around 40 percent below 2005 levels by 2030, according to three separate analyses by economic modelers at Rhodium Group, Energy Innovation, and Princeton University. The legislation helps move the US a little closer to its stated goal of cutting pollution in half within the decade.

https://www.msn.com/en-us/news/us/t...sedgntp&cvid=6e141be32f9142a3adfff2e1b817f72d