less than the democrats original $3.5 trillion build back better pitch, president biden is calling this a success. adding that senate democrats put american families above special interests. now, the victory, all the more notable, because it had none, zero republican support. the bill now heads to the house of representatives and president biden could sign it into law as early as friday. let s begin with cnn congressional correspondent jessica dean. she s on capitol hill this morning. jessica, this is a wide-ranging bill. it is designed to reduce inflation. it has billions of dollars in climate and energy incentives. it tackles prescription drugs. break down for us what is in this multibillion dollar bill. reporter: yeah, it s a big one. as you mentioned, it comes after a true marathon over the weekend here on capitol hill for democratic senators who really pushed this over the finish line. they used that specialized budget process that required only democratic support, bu
next up is the house, and they plan to take up the bill on friday. it s expected to pass, again, along party lines just as it did in the senate. once that happens, the white house plans to seize the momentum. while the president will be talking about this and explaining it absolutely to the american people and what it will look like is trying to explain in very practical terms why this matters for people s lives. the president will, our entire team will be out making the case. obviously right now we re focused on the last steps in this process, getting the bill through the house and to the president s desk for signature. let s go live to the capital and cnn s jessica dean. jes jessica, there are some wide-reaching provisions in this bill. lay it out for us. yeah, there s a lot in this bill. you mentioned that it s headed to the house. that s what comes next after senate democrats notched a big victory on something that frankly many of them didn t think they would see. t
this legislation provides $369 billion in new climate spending, which the white house says should help cut u.s. green there s house emissions by half by the end of this decade. the bill includes new initiatives on corporate taxes and drug price controls. now, if it becomes law, it will join a host of major legislative achievements for the president ahead of the midterms, including bipartisan investment in the country s infrastructure and manufacturing sectors. cnn joe johns is in eastern kentucky following the president. joe, what should we expect to hear from the president? reporter: well, you know, he is here, victor, in his role as consoler in chief, but if his previous remarks today were any indication, he s also promising that the government is going to stick around and help the people of eastern kentucky see this through to the other side. they ve got quite a lot of work to do. the president is now expected to get a tour of some of the damage that we saw here in easte
manchin earlier back in july, but now we do have this bill that has passed the senate. it is headed to the house. it has the biggest investment in climate ever to come out of congress and $369 billion. it also has a host of health care provisions in it, including expanding those affordable care act subsidies. for the first time ever, medicare will negotiate the price of some drugs that s going to cap out of pocket expenses at $2,000 for people on medicare, and also going to limit the cost of insulin, which is a popular drug that a lot of americans on medicare use for anybody on medicare, it s going to cap that at $35 a month, and puts in new tax provisions as well. chief among them, a 15% minimum tax on some of the largest corporations in america. that s a little bit of what s in the bill. it does go to the house where we are expecting it to pass and go to president biden s desk. victor, you alluded to this. it is really the latest in a string of victories for president bid
welcome to our viewers here in the united states and around the world. i m wolf blitzer. you re in the situation room. we begin with president biden touting a significant win for his agenda, coming as the country struggles with inflation and he faces low approval ratings. let s get straight to the white house, our chief correspondent kaitlan collins is joining us. if this bill passes as it s expected to, it will be a much needed win for this president. yeah, wolf. and one that was kind of a surprise to a lot of democrats and even some white house aides whenever it was announced that senator manchin and senator schumer did have this deal. of course, that culminated yesterday when the snenate passd what is known as the inflation reduction act. it s a far cry from the build back better bill from a year ago, but it still does have significant proposals in it, including over $300 billion for climate change and energy reform, it also allows for the first time medicare to ne