Senate Democrats pass Inflation Reduction Act; House to vote next

Senate Democrats pass Inflation Reduction Act;  House to vote next

WASHINGTON DC — Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less ambitious than President Joe Biden’s original domestic vision but one that still meets deep-rooted party goals of slowing global warming, moderating pharmaceutical costs and taxing immense corporations. The estimated $740 billion package heads next to the House, where … Read more

Senate passes Democrats’ sweeping climate, health and tax bill, delivering win for Biden

Washington — The Senate on Sunday passed Democrats’ sweeping economic package designed to combat climate change, address health care costs and raise taxes on large corporations, marking a crucial achievement for President Biden and his party as they look to maintain their hold on Congress in the November midterm elections. The plan, called the Inflation … Read more

Senate vote on tax and climate bill: Live updates

WASHINGTON (AP) — Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less ambitious than President Joe Biden’s original domestic vision but one that still meets deep-rooted party goals of slowing global warmingmoderating pharmaceutical costs and taxing immense corporations. The estimated $740 billion package heads next to the House, where lawmakers … Read more

Senate Democrats near passage of Inflation Reduction Act in marathon session

Washington — Democrats drove their election year economic package toward Senate approval on Sunday, debating a measure with less ambition than President Biden’s original domestic vision but that touches deep-rooted party dreams of slowing global warming, moderating pharmaceutical costs and taxing immense corporations. Debate began Saturday and by sunrise on Sunday, Democrats had swatted down … Read more

Ukraine grain shipments offer hope, not fix to food crisis

BEIRUT (AP) — A ship bringing corn to Lebanon’s northern port of Tripoli would normally not cause a stir. But it’s getting attention because of where it came from: Ukraine’s Black Sea port of Odessa. The Razoni, loaded with more than 26,000 tons of corn for chicken feed, is emerging from the edges of a … Read more

Parliamentarian weakens Democrats’ drug plan in Inflation Reduction Act, as Senate prepares to vote

The Senate parliamentarian on Saturday dealt a blow to Democrats’ plan for curbing drug prices but left the rest of their sprawling economic bill largely intact as party leaders prepared for the first votes on a package containing many of President Joe Biden’s top domestic goals. Elizabeth MacDonough, the chamber’s nonpartisan rules arbiter, said lawmakers … Read more

Senate rules referee weakens Dem drug plan in economic bill

WASHINGTON (AP) — The Senate parliamentarian on Saturday dealt a blow to Democrats’ plan for curbing drug prices but left the rest of their sprawling economic bill largely intact as party leaders prepared for first votes on a package containing many of President Joe Biden’s top domestic goals. Elizabeth MacDonough, the chamber’s nonpartisan rules arbiter, … Read more

Bank of England set for biggest rate hike in 27 years as inflation soars

LONDON, February 03: Governor of the Bank of England Andrew Bailey leaves after a press conference at the Bank of England on February 3, 2022 in London, England. The Bank is expected to hike interest rates for a fifth consecutive meeting on Thursday, but faces a tough balancing act between supporting growth and curbing inflation. … Read more

Bumps, bipartisanship in long fight for semiconductor bill

WASHINGTON (AP) — Five weeks ago, senior Biden administration aides gathered for their regular Thursday morning meeting about passing a bill to revive the US computer chip sector, worried that it could be in peril. After 18 months, the bipartisan effort to provide $52 billion for semiconductors was getting close to the finish line. But … Read more

Home Depot co-founder insists the US economy has entered a downturn

Home Depot’s co-founder has blasted Joe Biden’s claim that the US isn’t in a recession, says the economy is going down – and added that the president’s economic policies were to blame for rocketing inflation. Ken Langone appeared on Fox’s ‘Your World with Neil Cavuto’ Friday, and said: ‘Here’s where we are. And by the … Read more