NEW: The Senate parliamentarian has signed off on key climate and health care provisions in the Democrats' major spending bill.
Senate Majority Leader Chuck Schumer arrives to a news conference about the Inflation Reduction Act outside the U.S. Capitol, Aug. 4, 2022, in Washington, DC.
The Inflation Reduction Act sets out $369 billion for climate, much of which would go toward tax credits to prop up clean energy technologies. Consumer tax credits are included for Americans to make "home energy efficiency improvements" and for those who purchase electric vehicles."I'm especially pleased that our prevailing wage provisions were approved," Wyden said in a statement. "These provisions guarantee wage rates for clean energy projects.
Democrats wanted to penalize drug companies for raising prices of some prescription drugs faster than inflation, in an effort to keep costs down. But, according to a source familiar, the parliamentarian ruled that these penalties cannot be applied on individuals with private health insurance. They'll stay in affect for Medicare.
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