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House passes IRA with unanimous Democratic support

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It’s done:

Congress gave final approval on Friday to legislation that would reduce the cost of prescription drugs and pour billions of dollars into the effort to slow global warming, as House Democrats overcame united Republican opposition to deliver on key components of President Biden’s domestic agenda.

With a vote of 220 to 207, the House agreed to the single largest federal investment in the fight against climate change and the most substantial changes to national health care policy since passage of the Affordable Care Act. The bill now goes to Mr. Biden for his signature.

The legislation would inject more than $370 billion into climate and energy programs aimed at helping the United States cut greenhouse gas emissions by an estimated 40 percent below 2005 levels by the end of the decade. It would also extend for three years expanded subsidies under the Affordable Care Act, as well as fulfill a long-held Democratic goal to lower the cost of prescription drugs by allowing Medicare to directly negotiate prices and capping recipients’ annual out-of-pocket drug costs.

It’s particularly satisfying that the Problem Creators Caucus, which nearly blew up the negotiations over removal of the SALT cap (the policy expression of “in NYC $500,000 a year is barely even middle class” op-eds), accepted Pelosi’s offer of “nothing.” Maybe Pelosi got to dunk Gottheimer’s head in a toilet first too. Anyway, good show, and certainly not something I would have expected to happen this time last month.

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