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Energy security and is the boldest climate package in us history. the senate has now passed the most significant bill to fight the climate crisis ever. it is going to make a difference to my grandkids. he world will be a better place for my grandchildren because of what we did today and that makes me feel very, very good. very, very good. we're joined by our north america correspondent, peter bowes, in los angeles. this is quite a significant moment, isn't it? , , , ., , isn't it? yes, this is a huge bill, of course _ isn't it? yes, this is a huge bill, of course not — isn't it? yes, this is...

370 billion dollars to address climate change. and also, it would be interesting to think about it from a political perspective. now that we have extreme months from the midterm elections, climate action appears younger voters. cutting prices is for older voters, and a deficit reduction? is for independence. joining us now, congresswomen of texas. tell us how important it is for them to pass a bill this weekend? >> this is a huge step forward, that inflation reduction act. lower inflation. lower the cost of prescription drugs, finally allowing medicare to negotiate the price of it prescription...

Right now. and it's causing a real crisis for them. >> so stef, if you could stick around. we want to turn now to the latest on the democrat's reconciliation bill as kyrsten sinema has agreed to back the package clearing the way for a vote this weekend. her decision comes after days of fellow democrats lobbying on the deal. lobbying her on the deal. in a statement last night, the moderate senator said she would come on board after the carried interest rate tax provision was removed and the bill imposed a 15% minimum tax on large corporations after some companies paid little to no taxes after t...

Has taken shape. and it includes nearly $370 billion for climate and energy provisions allowing medicare to negotiate drug prices, capping out of pocket prescription drug costs at $2,000. extending obamacare subsidies which were set to expire. a 15% corporate minimum tax and newly added 1% excise tax on stock buybacks. and senator schumer says with that, all 50 senate democrats he believes will vote for this bill. but there is one last remaining puzzle piece that needs to fall into place and that is the senate parliamentarian. that will make a determination about whether this package complies ...

Longer term, medium term, there are a lot of good things in this bill that would help to bring in inflationary pressures down. and then there are some things that will help in the short term, as well. >> would you say, stephanie, -- or what do you think is the most under reported aspect of the reconciliation bill, that is worth highlighting, that perhaps is not good enough to attention at this moment? >> i think maybe it might be the green bank and the climate accelerators. a lot of the headline numbers that we are talking about are these sort of direct investment, the rebate tax incentives an...