Starting Saturday afternoon and working through the night into Sunday, the Senate has been chipping away at a "vote-a-rama" for the Inflation Reduction Act bill which will impose new taxes for health care and climate issues. While these taxes will not impact small businesses or families making $400,000 or less, it will create a "15% minimum tax for corporations making $1 billion or more in income, bringing in more than $300 billion in revenue," according to NPR.
At a point of deadlock in the voting process, Vice President Kamala Harris arrived at the Capitol to cast a tie-breaker, leaving the vote at "51 to 50 to proceed to the 755-page bill," according to The Hill. From here, a final passage of the bill will be pushed through Senate with a yet-to-be-determined timeline that could be as soon as the end of the weekend. Once the bill makes its way through Senate it will then need to be approved by the House of Representatives before President Biden signs it into law.
