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Biden, Democrats Get a Rare Chance to Crow Heading Into Midterms

  • Senate passes tax, climate, energy bill after weekend marathon
  • Bill is shadow of early White House ambitions for agenda
Bloomberg business news
U.S. Senate Passes Democrats’ Landmark Tax, Climate, Drugs Bill
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President Joe Biden and his party finally scored the win they’ve been waiting for heading into the November congressional elections.

But it’s uncertain it will be enough to save them from the nation’s sour mood over inflation. At about $437 billion in new spending over a decade, the tax and climate bill passed by the Senate Sunday is a shadow of the $4 trillion Biden first proposed, much less the $10 trillion plan progressive Democrats sought more than a year ago.