US Senate passes major $594b Bill to fight climate change, cut drug costs

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WASHINGTON - The US Senate passed a sweeping US$430 billion Bill intended to fight climate change, lower drug prices and raise some corporate taxes on Sunday , a major victory for President Joe Bide

n that Democrats hope will aid their chances of keeping control of Congress in this year's elections.

"The time is now to move forward with a big, bold package for the American people," Senate Majority Leader Chuck Schumer said at the start of debate on Saturday night. He said the legislation contains"the boldest clean energy package in American history" to fight climate change while reducing consumer costs for energy and some medicines.

Republicans, arguing that the Bill will not address inflation, denounce the measure as a job-killing, left-wing spending wish list that could undermine growth when the economy is in danger of falling into recession. Any change in the bill's contents wrought by an amendment could have unraveled the Democrats' 50-senator coalition needed to keep the legislation on track. But they were unable to muster the votes necessary to retain a provision to cap soaring insulin costs at US$35 a month on the private health insurance market, which fell outside the reconciliation rules. Democrats said the legislation would still limit insulin costs for those on Medicare.

 

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