After a marathon voting session that took place over the weekend, the Inflation Reduction Act bill has passed Senate on a 51-50 vote with Vice President Kamala Harris casting her tie-breaking vote. As USA Today highlights in their coverage of the bill's passing, this bill delivers "a major win for President Joe Biden and his agenda before the midterm elections."
The bill will not only serve to reduce prescription drug prices, but will also create a 15% minimum tax for corporations making $1 billion or more, bringing in more than $300 billion in revenue. Although the bill did pass, the divide in votes was clear with every Democrat voting in support of it, and every Republican voting against it.
