Democrats held united, 51-50, with Vice President Kamala Harris casting the tie-breaking vote on a $740 billion economic package. The bill heads to the House, where lawmakers are poised to deliver on President Joe Biden’s priorities.
“It’s been a long, tough and winding road, but at last, at last we have arrived,” said Senate Majority Leader Chuck Schumer, D-N.Y., ahead of final votes.
The bill ran into trouble midday over objections to the new 15% corporate minimum tax that private equity firms and other industries disliked, forcing last-minute changes. Republicans said the measure would undermine an economy that policymakers are struggling to keep from plummeting into recession. They said the bill’s business taxes would hurt job creation and force prices skyward, making it harder for people to cope with the nation’s worst inflation since the 1980s.
Before debate began Saturday, the bill’s prescription drug price curbs were diluted by the Senate’s nonpartisan parliamentarian. Elizabeth MacDonough, who referees questions about the chamber’s procedures, said a provision should fall that would impose costly penalties on drug makers whose price increases for private insurers exceed inflation.
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Senate Democrats approve big Biden deal; House to vote nextDemocrats held united, 51-50, with Vice President Kamala Harris casting the tie-breaking vote.
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