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IPFS News Link • Legislative Mischief

GOP Hopes To Use "Byrd Rule" To Chop Pieces Off Climate And Tax Bill

• Zero Hedge

Winning over current West Virginia Senator Joe Manchin has helped Democrats move toward passage of a $433 billion tax-and-spend bill, but a rule created by former West Virginia Senator Robert Byrd may help Republicans hack some pieces off of it.  

"We'll try and challenge everything we possibly can," Wisconsin Senator Ron Johnson told Bloomberg. "If we can knock it all out that would be a good thing."

Among other things, the disingenuously-named "Inflation Reduction Act of 2022" would spend $369 billion on climate provisions, increase the IRS's enforcement firepower, impose a minimum 15% corporate tax rate and reduce the prices the federal government pays for prescription drugs. 

The "Byrd Rule" limits what can be included in a budget reconciliation bill -- which is how the bill is being positioned. Reconciliation is a budget-centric legislative path that only requires a simple majority for passage, rather than 60 votes.

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