Sen. Josh Hawley, R-Mo., on the other hand, stated that he respected the Democrats’ political decision, despite the fact that they were preventing the passage of an amendment he supported.
NEW YORK, NY – APRIL 24: On April 24, 2022, in New York City, Sen. Bernie Sanders (I-VT) addresses a rally for the Amazon Labor Union.
Sen. Bernie Sanders criticized Democrats’ “Inflation Reduction Act” on Saturday, accusing it of failing to lower inflation and accusing its sections regarding fossil fuels of being a “slap in the face” to those suffering from the consequences of pollution and climate change.
Sanders, I-VT, said on the Senate floor, “I want to take a moment to say a few things about the so-called Inflation Reduction Act’ that we are considering this evening. “And I say so-called, by the way, because the CBO and other economic institutions that research this measure claim that it will actually have a negligible effect on inflation,” the speaker said.
The “Inflation Reducation Act” is the outcome of more than a year’s worth of Democratic party-internal discussions about how to pass a party-line measure without needing the required 60 votes for a filibuster by using the budget reconciliation procedure in the Senate. Sanders was one of the main advocates of the legislation, which was first termed “Build Back Better,” and which at one stage was estimated to cost more than $3 trillion.
However, Sen. Joe Manchin of West Virginia defeated such initiatives the previous year. Last week, he and Majority Leader Chuck Schumer of New York reached an agreement on a bill. However, it was drastically reduced, with over $400 billion in spending and over $700 billion in tax income.
Sanders is expected to support the final bill regardless of the circumstances because he supported the motion to continue the discussion earlier on Saturday. In his floor remarks, he also mentioned that it has provisions he loves. However, he added that the bill had drawbacks as well.
One of them, according to Sanders, is the lack of action on medicine costs and the weak climate change provisions.
He claimed that the bill’s current form features a substantial giveaway to the fossil fuel industry. It’s a slap in the face to the communities battling to defend themselves against dirty fossil fuels.
Sanders continued, “The pharmaceutical business will still be allowed to charge the American people by far the highest costs in the world for prescription pharmaceuticals at a time when the drug firms are reaping great profits.
The senator bemoaned the fact that many of his colleagues are unwilling to accept his revisions, which they claim could jeopardize the legislation’s ability to pass in its final form.
Sanders stated, “We could pass some tremendously significant amendments, which would have a dramatic impact on improving the lives of working people in this nation, if all 50 members of the Democratic caucus were to stand up today.
Sanders declared he would push for an amendment that would “strike all of the advantages to the fossil fuel industry” from the proposed law, as well as pay Medicare’s dental and vision plans and establish a Civilian Conservation Corps. Sanders has also put out another proposal that would boost the corporate tax rate and increase the child tax credit.