How the Inflation Reduction Act might affect you — and change the U.S.
The package, while smaller than Democrats’ initial ambitions, would transform huge sectors of the U.S. economy and affect millions of Americans.
The corporate minimum tax could hit these ultra-profitable companies
The ultra-profitable companies that could get hit by the corporate minimum tax included in the Inflation Reduction Act and how much they've paid in taxes in recent years.
House passes Inflation Reduction Act, sending climate and health bill to Biden
The successful vote Friday marked the end of a debate that spanned more than a year and a half, at times pitting Democrats against each other over the final major component of the president’s agenda.
The new Wall Street tax key to Democrats’ Inflation Reduction Act
Corporate stock buybacks were illegal until 1982, but now Democrats want to tax the transactions to pay for President Biden’s climate and health care agenda.
Democrats savor spending bill — and some tell voters they want to do more
As the House prepares to vote on the Inflation Reduction Act, some lawmakers are looking to next year, wishing for more votes to deliver what they couldn’t now
A new era of industrial policy kicks off with signing of the Chips Act
The legislation provides $52 billion in subsidies to companies building chip factories in the United States.
With Sinema’s help, private equity firms win relief from proposed tax hikes
Sen. Kyrsten Sinema (D-Ariz.), a must-have vote for the legislation, insisted on last-minute changes to exempt the industry from a new minimum tax on billion-dollar corporations.
Senate approves Inflation Reduction Act, clinching long-delayed health and climate bill
More than eight hours into debate, party lawmakers appeared on track to deliver the political centerpiece of President Biden’s long-stalled economic agenda.
Republicans block cap on insulin costs for millions of patients
GOP lawmakers stripped efforts by Democrats to impose a $35 price cap on the cost of insulin for many patients from the legislative package moving through Congress.
Post Roe, some in GOP wage uphill battle to offer families more support
With abortion rights overturned, are Republicans ready to change the way they think about federal support for families?
Senate opens debate on Biden-backed Inflation Reduction Act
The Inflation Reduction Act of 2022 is up for debate on the Senate floor. A final vote could come soon.
Sanders grapples with missed opportunity in Democrats’ economic plan
The Vermont senator wanted Democrats to seek significant changes to the economy. “Does this bill do that? No," he said. "Might it be better than nothing? Yes.”
Democrats, Sinema reach deal on Inflation Reduction Act, after key changes to tax policies
The new approach — along with other changes to the proposal known as the Inflation Reduction Act of 2022 — satisfied Sinema’s chief concerns and helped set in motion a plan to approve the bill as soon as this weekend.
Pelosi dined with Taiwan computer chip executives during her brief visit
In a Facebook post on Wednesday, Taiwanese President Tsai Ing-wen said that Pelosi and she attended a lunch with Morris Chang, the founder of Taiwan Semiconductor Manufactuering Company, and its chairman, Mark Liu, as well as Chen Jianzhong, vice chairman of electronics manufacturer Pegatron Corp.
Democrats weigh reducing new taxes to get Sinema’s vote for climate bill
The senator from Arizona — a centrist fiscal hawk — previously has raised concerns with plans to revise federal tax laws.
Democrats race to ready Inflation Reduction Act for vote this week
Democrats need to short up support among their own ranks, steel themselves for new Republican attacks and prepare for the possibility that a coronavirus outbreak could rattle even the best-laid plans.
Pelosi to meet with Taiwan’s biggest semiconductor manufacturer
The meeting with the CEO of TSMC, the largest computer chip manufacturer in the world, underscores the importance of the tiny silicon bits to the United States.
Democrats’ side deal with Manchin would speed up projects, West Virginia gas
The deal would also clear the way for a West Virginia gas pipeline. The senator from West Virginia and Democratic leaders forged a separate deal to expand energy infrastructure that would have to be voted on outside the party’s energy package.