Democrats Outsmart Mitch McConnell With Surprise Reconciliation Deal
Huff PostLOADING ERROR LOADING WASHINGTON — Senate Minority Leader Mitch McConnell said last month that he wouldn’t allow the Senate to pass a bipartisan bill on computer chips if Democrats tried to revive their “Build Back Better” agenda. Senate Majority Leader Chuck Schumer and Sen. Joe Manchin announced they’d agreed on the new bill Wednesday after Manchin had refused to support Build Back Better last year. The legislation, called the “Inflation Reduction Act,” consists of a handful of Build Back Better provisions that Manchin liked: It would require Medicare to pry lower prescription prices from drugmakers, impose a minimum tax on corporations and boost tax revenue through an investment in Internal Revenue Service enforcement. Schumer said the Senate could vote on the new bill as soon as next week, so long as the Senate parliamentarian says the bill’s components pass muster under the Senate’s special “budget reconciliation,” which would allow legislation to pass the Senate with only 50 votes instead of the usual 60 needed to avoid a filibuster.