Bernie Sanders initiates a plan to take on the greed of the fossil fuel industry as he made the announcement on Wednesday that he will be filing amendments to strengthen the legislation’s drug price provisions, which the Vermont senator has characterized as being unacceptably weak.
Sanders also announced that he would be filing amendments. This will remove giveaways to the fossil fuel industry from the Democrats’ new reconciliation bill.
Sanders, in a speech on the Senate floor reiterated the message that he delivered in Tuesday’s remarks outlining what he sees as the deep flaws in the reconciliation package, which is the product of months of negotiations primarily between Sen. Joe Manchin (D-W.Va.), an ally of the fossil fuel industry and Senate Majority Leader Chuck Schumer. Sanders’s remarks outlined what he sees as the deep flaws in the reconciliation package. This was the product of months of negotiations.
“We have got to do everything possible to take on the greed of the fossil fuel industry.” “In order to do just that, I will be submitting an amendment,” he added. This was in his speech on Wednesday.
According to Warren Gunnels, the staff director for Sanders, the amendment would “eliminate all of the fossil fuel giveaways in the so-called “Inflation Reduction Act,‘” which is a proposed change that is sure to draw opposition from Manchin.
Bernie Sanders initiates plan to take on the ‘greed of the fossil fuel industry’
One of the provisions that Sanders intends to challenge is the one that stipulates, as a prerequisite for the construction of new wind and solar farms. The one that says millions of acres of public property must be made available for oil drilling. He also cautioned that the plan, in its current form, would provide “billions of dollars in new tax cuts. Also, provide subsidies over the next 10 years” to the oil and gas sector.
“It may appear a bit paradoxical to people why we are paying the individuals whose emissions are pushing the temperature of the earth up and causing huge harm,” the senator says. However, in fact, “that is in fact what this bill achieves.”
Sanders also stated that he plans to offer an amendment. This amendment will ensure that Medicare “pays no more for prescription medications” than the Department of Veterans Affairs. Sanders’s statement came after he revealed his intention to introduce the amendment.
At this time, the reconciliation plan only has a few provisions that would require Medicare. This is to negotiate the pricing of a select few pharmaceuticals directly with pharmaceutical firms. These corporations are actively pushing against the idea, which would oblige Medicare to negotiate these prices.
According to the findings of a new study conducted by the Government Accountability Office (GAO), Medicare Part D, which is the benefit for prescription drugs that is offered by private plans that have been approved by the government, paid on average twice as much as the Department of Veterans Affairs for the same medicines in 2017.
Bernie is enraged at VA.
Sanders stated on Wednesday that it is “absolutely ridiculous” that there is a single government agency. This is known as the VA, and it pays for half of what Medicare does. “I mean, are you kidding me with that?”
“We don’t need to reinvent the wheel. That is, when it comes to decreasing the price of prescription pharmaceuticals under Medicare,” he stated. “There are already proven strategies that can be used.” “We could simply require that Medicare pay no more for prescription drugs than the VA.”Also, that would be the end of the conversation. ” If we achieved so, we would be able to save Medicare around $900 billion. This is over the course of the next decade. That is nine times more money saved than the somewhat ineffective part of this measure that deals with negotiations. “
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Criticisms
The criticisms that the Vermont senator has leveled against the reconciliation plan and the suggested amendments come at a time when Democrats are rushing to finish working on the package by the end of this week and approve it before they go on vacation on August 8.
There is a possibility that the bill will undergo some last-minute revisions as the Senate parliamentarian is in the process of analyzing certain provisions of the legislation and getting ready to provide advice to senators regarding whether or not each section complies with the obscure rules of budget reconciliation.
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Sen. Kyrsten Sinema, a Democrat from Arizona is apparently working to remove carried interest restrictions from the tax code. These measures were designed to limit the ability of private equity tycoons and hedge fund managers to avoid paying taxes. Sinema, whose vote is required for the bill’s ultimate approval has not yet made any public statements in support of the legislation.