Monday 8 August 2022 03:31 PM Biden says Democrats' $740B bill WILL boost midterm chances as Republicans plot ... trends now

Monday 8 August 2022 03:31 PM Biden says Democrats' $740B bill WILL boost midterm chances as Republicans plot ... trends now
Monday 8 August 2022 03:31 PM Biden says Democrats' $740B bill WILL boost midterm chances as Republicans plot ... trends now

Monday 8 August 2022 03:31 PM Biden says Democrats' $740B bill WILL boost midterm chances as Republicans plot ... trends now

President Joe Biden suggested on Monday he was confident that Senate Democrats' Inflation Reduction Act will aid his party's uphill battle to keep the majority in Congress next year.

Projections about November's midterm elections have looked dim for Democrats for months, but the commander-in-chief told reporters on his way to Kentucky that Americans would feel the bill's benefits immediately if signed into law.

'Do I expect it to help? Yes, I do. It's going to immediately help,' Biden said when asked about the looming elections, according to CNN.

He reportedly highlighted the bill's Medicare cap on out-of-pocket drug costs.

But other measures may take longer to kick in - Democrat Sen. Chris Coons of Connecticut suggested the legislation may take 'a year or more' to bring down inflation during an interview on ABC News' This Week.

Meanwhile Republicans are warning Democrats that they will pay a political price after the Senate passed the multi-billion dollar climate change, healthcare and tax plan along in a 51 to 50 vote late on Sunday afternoon.

GOP Rep. Kevin Hern told DailyMail.com that the two moderate Democrats in the Senate, Joe Manchin of West Virginia and Kyrsten Sinema of Arizona, got 'played' by more progressive members of their party into voting for the bill.

'What we saw in the Senate this weekend was a masterclass in misdirection and misinformation. Manchin and Sinema got played. They just voted to raise taxes – in the middle of a recession – less than 100 days before a critical election,' Hern said. 

President Joe Biden said the bill would have some 'immediate' effects during comments to reporters on Monday

President Joe Biden said the bill would have some 'immediate' effects during comments to reporters on Monday

He suggested it may help boost Democrats' chances in the looming midterm elections in November 

Biden spoke to the press as he heads to survey storm and flood damage in Kentucky

Biden spoke to the press as he heads to survey storm and flood damage in Kentucky

No GOP senators signed onto the bill, which was passed via a budgetary process known as reconciliation - meaning the party in power can bypass the required 60-vote threshold to pass a bill via simple majority. Vice President Kamala Harris cast the tie-breaking vote in the evenly divided chamber.

Republican critics claim the legislation's $430 billion in new spending and about $740 billion in new revenue will escalate costs for American families just days after the US economy showed a second straight quarter of negative growth.

Republican National Committee Chairwoman Ronna McDaniel warned the repercussions could hit President Joe Biden's party in the looming midterm elections.

'Democrats will pay the price in November for raising taxes on families during a recession,' McDaniel said in a statement. 

The bill now heads to the House of Representatives for a vote, where GOP lawmakers are similarly skeptical of its purported economic benefits.

'Congress should be focused on the rising price of gas, groceries, and just about everything else. But Democrats have no plan to fix the problems they caused,' House Minority Leader Kevin McCarthy said on Sunday night.

'Instead, they voted on a 700-page spending spree that would raise taxes, hire 87,000 IRS agents, and increase inflation.'

Meanwhile Republicans in the House of Representatives, where the bill heads next, are already blasting it and warning it will raise taxes on Americans

Meanwhile Republicans in the House of Representatives, where the bill heads next, are already blasting it and warning it will raise taxes on Americans

The Senate passed the Inflation Reduction Act along party lines on Sunday after a session lasting more than 16 hours

The Senate passed the Inflation Reduction Act along party lines on Sunday after a session lasting more than 16 hours

Senate Majority Leader Mitch McConnell tore into the bill's passage in a statement after Sunday's vote

Senate Majority Leader Mitch

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