ECONOMIC POLICY

The legislation provides $52 billion in subsidies to companies building chip factories in the United States.

The package, while smaller than Democrats’ initial ambitions, would transform huge sectors of the U.S. economy and affect millions of Americans

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.

More than eight hours into debate, party lawmakers appeared on track to deliver the political centerpiece of President Biden’s long-stalled economic agenda.

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.

With abortion rights overturned, are Republicans ready to change the way they think about federal support for families?

The Inflation Reduction Act of 2022 is up for debate on the Senate floor. A final vote could come soon.

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.”

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.

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.

The senator from Arizona — a centrist fiscal hawk — previously has raised concerns with plans to revise federal tax laws.

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.

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.

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.

With Fed Chair Jerome H. Powell moving aggressively, the White House now faces the prospect that these efforts could instead tip the economy into a recession.

The key Senate Democrat said he reversed course after securing Democratic leaders’ support for fossil fuels and assurances that their plan would not contribute to inflation.