Senate passes Inflation Reduction Act, Democrats' climate, health and tax bill, delivering win for Biden - CBS News

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 Reduction Act, cleared the upper chamber by a vote of 51 to 50 along party lines, with Vice President Kamala Harris providing the tie-breaking vote in the evenly divided Senate.

The vote came after a marathon session that lasted through the night and into Sunday afternoon, with Democrats breaking into applause as members cast their final votes.

Democrats needed 60 votes to waive reconciliation rules and keep that part of the bill, but it failed 57 to 43, with seven Republicans joining Democrats in support of the measure.

Biden praised Senate Democrats for passing the plan and acknowledged it required "many compromises." He urged the House to swiftly approve the bill.

The package is the culmination of months of negotiations over Mr.

Still, Democrats praise the plan as their answer to addressing rising consumer prices and for its nearly $400 billion investment in fighting climate change, the largest ever.

The corporate tax provision emerged as a point of contention as senators neared a final vote on Sunday.

One piece of Democrats' drug-pricing plan — imposing penalties on drug manufacturers that raised prices beyond inflation on private insurers — was removed after it was reviewed by Senate parliamentarian Elizbeth MacDonough.

Rick Scott, a Republican from Florida, claimed Democrats' drug pricing plan will harm seniors, while the tax component will increase taxes on Americans