ECONOMIC POLICY

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.

By Jeff Stein, Maxine Joselow and Rachel RoubeinAugust 15, 2022

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.

By Kevin SchaulAugust 12, 2022

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.

By Tony RommAugust 12, 2022

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.

By Jacob BogageAugust 12, 2022

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

By Tony RommAugust 10, 2022

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.

By Jeanne WhalenAugust 9, 2022

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.

By Jeff SteinAugust 7, 2022

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.

By Tony RommAugust 7, 2022

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.

By Evan Halper and Tony RommAugust 7, 2022

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?

By Jeff Stein and Leigh Ann CaldwellAugust 7, 2022

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.

By Tony RommAugust 6, 2022

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.”

By Tony RommAugust 5, 2022

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.

By Tony RommAugust 4, 2022

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.

By Jeanne Whalen and Cate CadellAugust 3, 2022

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.

By Tony Romm and Jeff SteinAugust 3, 2022

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.

By Tony RommAugust 2, 2022

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.

By Jeanne Whalen and Ellen NakashimaAugust 2, 2022

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.

By Jeff Stein and Tony RommAugust 1, 2022