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reduction act, would be the largest investment in energy and climate programs in u.s. history. for the first time it would give medicare the power to negotiate prescription drug prices, cap medicare out-of-pocket costs at $2,000, and extend expiring health care subsidies for three years. but before any of that happens, it must get approval from the senate parliamentarian to proceed with a filibuster-proof reconciliation process, allowing democrats to pass the bill with just 50 votes. cnn s jessica dean is on capitol hill for us. jessica, where does the bill stand right now? reporter: well, now we are sitting around and waiting for it to make its way through this very complex budget procedure that you just kind of outlined there, frederica. but what we are anticipating is that the senate will gavel in in about an hour around noon. from there, they re going to they have to kind of get through all of these procedures. so what we ve learned in the last couple of hour ....
What is called a vote-a-rama where they can vote on a number of amendments. that can take hours and hours and hours, and then they would finally vote on final passage. but when they will start that actual process is very much in flux. again, they re waiting on the parliamentarian for their rulings. they re waiting for the congressional budget office to get back with some scores on just how much some of these things are going to cost, how it might affect the deficit. all of that means it is very in flux. we kind of wait until we get all of that information, and we will just have to follow along. again, the senate democrats and the whole senate, fred, are simply waiting on a lot of this to happen as well. so we will keep our eye on it, but we know they will be convening in about an hour. from there we will just have to see how its. all right. a long day, long procedure. reporter: that s right. right around the corner. reporter: yes. jessica, keep us posted. thank you so much. ....