Senate Passes Inflation Control Act, Bill Moves to House

The Control Inflation Act is directed to the US House of Representatives. The Senate passed the bill on Sunday after an all-night session.

Vice President Kamala Harris stepped in on Sunday afternoon to break the $700 billion inflation cut bill.

The bill passed includes a $35 cap on insulin prices, but only for Medicare Americans. Starting in 2026, Medicare will be able to negotiate the price of some prescription drugs.

Lawmakers hope to reduce the deficit by increasing IRS staffing to catch tax fraudsters and minimizing taxes on profits for large corporations.

The bill also includes $369 billion in investment and tax cuts in clean energy, electric vehicles and other green infrastructure. His DEEP officials in the state call it a win-win.

The Control Inflation Act is scheduled to be voted on by the House of Representatives on Friday. Republicans are skeptical that the bill will fight inflation and rising prices.

The bipartisan Congressional Budget Office said in an analysis last week that the spending bill would have negligible impact on inflation over the next two years.

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