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U.S. Senate Passes Inflation Reduction Act

WASHINGTON, D.C. -- The U.S. Senate has passed the Inflation Reduction Act along party lines, over the weekend. It still must get through the House.

Oregon Senator Jeff Merkley (D-OR) says it takes on big pharma, "By negotiating the price of Medicare drugs. It’s an absolutely first step that we need to build on in the future. We should be negotiating every single drug the way that every other developed country does. And we should be getting the best prices, not the worst."

He says it also reduces the dependency on fossil fuels, by promoting electrification. And, it addresses a tax loophole, "Where corporations like Amazon don’t pay a dime. I mean they should be paying a million times what you and I pay, instead of paying nothing. So they’ll have a 15% minimum tax; and that’s way overdue."

Republicans have said it will increase inflation and kill jobs.

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