Bernie Sanders blasted Democrats’ major climate and healthcare bill as “the so-called Inflation Reduction Act.”
Sanders pointed out a nonpartisan review found the legislation wouldn’t have an immediate effect on inflation.
Republicans have also knocked the bill’s name.

Sen. Bernie Sanders blasted Democrats’ massive climate and healthcare bill on Saturday evening as senators tried to pass a major piece of Biden’s economic agenda after more than a year of debate.

“I want to take a moment to say a few words about the so-called Inflation Reduction Act that we are debating this evening,” Sanders said just after joining Democrats in advancing debate on the proposal. “I say so-called because according to the CBO and other economic organizations that have studied this bill, it will in fact have a minimal impact on inflation.”

For much of the week, Sanders has torn into the $740 billion proposal brokered by Senate Majority Leader Chuck Schumer and Sen. Joe Manchin, which would invest millions in green energy, lower some prescription drug prices, and impose a 15 percent minimum tax on large corporations.

Sanders’ mention of the CBO, or Congressional Budget Office, is a nod to the nonpartisan scorekeeper’s finding that the proposal is negligible, at least in the immediate future, NPR previously reported.

The Vermont independent intends to introduce amendments to change the bill, such as one measure that would empower Medicare to pay an amount equal to the Department of Veterans Affairs for prescription drugs. Democrats are likely to resist the amendments, as adopting Sanders’ proposals might jeopardize the fragile deal.

Republicans have used the CBO’s findings as fodder to lambaste the Democrats’ proposal. Some have previously used Sanders’ exact approach of referring to the proposal as “the so-called Inflation Reduction Act.”

Sanders has fumed over the elements that were jettisoned from Biden’s larger “Build Back Better” …read more

Source:: Business Insider


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