US Senate Approves Climate, Drug Cost Legislation in Major Win for Dems

The $430 billion piece of legislation passed the Senate along party line by a vote of 51 to 50.

Vice President Kamala Harris cast the tie-breaking vote.

The bill is the most significant federal legislation in history to address climate change.

The bill will also give Medicare the right to negotiate drug prices, ... and will impose a significant tax increase aimed at the profits of major U.S. corporations.

The legislation passed after a nearly 27-hour "vote-a-rama," in which Republicans attempted to curtail pieces of the bill.

The measures of the bill are crafted to pay for themselves, so Democrats are hopeful its passage will help to reign in inflation.

The bill made it to the Senate floor as Sens.

Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) agreed to support the bill after concessions.

It will now move to the House, which is expected to approve as soon as Aug.

12, before arriving at the president's desk for signature.

Despite the concessions, President Joe Biden hailed the passage of the bill as a major victory for his administration.