WASHINGTON, D.C. — Democrats in the U.S. Senate are trying to pass a sweeping climate and health care bill before they head home for the August recess.
What You Need To Know
- Democrats in the U.S. Senate are trying to pass a sweeping reconciliation package before leaving town for the summer
- Ohio Democrats are supportive of the climate and health care bill, arguing it’s necessary and will help lower inflation
- Ohio Republicans are adamantly against it, warning it could fuel inflation
The proposed package would be big. Democrats estimate it would invest almost $400 billion in energy and climate programs, while reducing the deficit by $300 billion.
But Senate Republicans are adamantly against it. Ohio Sen. Rob Portman (R) delivered a floor speech about it Tuesday night.
“Why would we want to add additional costs by saying we’re going to tax these companies that are going to pass it along to their workers and to the consumers with higher prices?” Portman said.
West Virginia Sen. Joe Manchin (D) and Senate Majority Leader Chuck Schumer reached the Democrat-only deal last week.
As proposed, it would:
- Enact major climate provisions to reduce greenhouse gas emissions
- Allow Medicare to negotiate certain drug prices
- Extend subsidies for Obamacare through 2025 to make health care more affordable
- Impose a 15% minimum tax on corporations to help pay for it
Republicans argue it would increase inflation because higher taxes on corporations will trickle down to workers; and workers are already struggling with the high cost of goods right now.
Democrats say the companies would just be paying their fair share.
The Congressional Budget Office estimated Wednesday the legislation “would result in a net decrease in the deficit totaling $102 billion over the 2022-2031 period.”
Some, like Ohio Rep. Tim Ryan (D, OH-13), view it as their last shot to pass significant legislation before November’s midterm elections.
“I really like the fact that it makes some investments,” Ryan, who’s running for Senate, told Spectrum News last week. “It asks the wealthiest people to pay more—who have done really well throughout the recession. It protects small businesses and workers from any tax increases. And it helps pay down the deficit, which we really have to start talking about because we can’t keep putting stuff on the credit card and giving it to our kids. So I think it strikes a pretty nice balance and I think it looks, top line, like a pretty good deal.”
Democrats want to move this bill under a rule that allows certain legislation to pass on a simple majority vote. That means all 50 Democrats in the Senate will have to support it.
Manchin, the most conservative member of the caucus, is on board, but Arizona Sen. Kyrsten Sinema has still not said if she can back it.
