First, I want to thank my colleagues for all of the good work so far on the NDAA, the National Defense Authorization Act. We were very productive last week, and I hope this week can be equally so. Today, we will begin our work by holding…
First, I want to thank my colleagues for all of the good work so far on the NDAA, the National Defense Authorization Act. We were very productive last week, and I hope this week can be equally so.
Today, we will begin our work by holding two floor votes, one on Senators Cornyn and Casey's outbound investment screen amendment and then a vote on the Round-Tester farmlands amendment. Both of these amendments have been in the works for months, and I intend to vote in their favor. I urge my colleagues to do so as well.
I know there are concerns on both sides of the aisle with some of the text in both amendments. Senators Cornyn, Casey, Rounds, Tester, and I are all committed to working through these concerns in the conference process.
Tomorrow, we will vote on the Warnock-Budd amendment designed to halt debt collector harassment of our servicemembers. Again, I appreciate the cooperation of Senators on both sides as we worked to lock in these votes.
And today and tomorrow, Leader McConnell, Chair Reed, Ranking Member Wicker, and I will also work on assembling a second managers' package of amendments.
I hope this effort is successful. It will require everyone to work together, and we cannot let the perfect be the enemy of the good.
Concurrently, we will also keep working on additional floor votes that we might need to finish the NDAA this week. We have a chance to show the American people that the Senate can work productively on our national defense, in stark contrast to the partisan race to the bottom that we saw over in the House.
But the work isn't finished yet. We are going to keep negotiating a path forward, and the Senate will continue working on the NDAA until the job is done. I thank both sides for their efforts.
Business Before the Senate
Mr. President, now on other Senate business, as we move forward with the
NDAA here on the floor, appropriators also continue working in committee. Last week, the Appropriations Committee marked up and approved three more bills, and, this week, they will hold another markup on Thursday. Just like the NDAA, I am proud to say the appropriations process has been largely bipartisan, precisely as it should be.
And, finally, with so much going on this week, I want to remind my colleagues that we will be holding our third all-Senators briefing on AI, following up on our classified briefing earlier this month. I thank all of my colleagues for making the time to attend these AI briefings.
Today, I also wish to recognize the efforts of the Judiciary Committee, which this afternoon is holding its own hearing on AI regulation. They join the work of many other committees that have moved quickly this year to begin focusing on AI in a very serious way.
The Senate will continue ramping up our focus on AI policy when we begin hosting our Insight Forums later this fall.
So, once again, thank you to my colleagues for their good work on this pressing matter.
Inflation Reduction Act
Mr. President, now on the IRA and its 1-year anniversary. We are approaching the 1-year anniversary of the passage of the Inflation Reduction Act. The Inflation Reduction Act, known as the IRA, was one of the most consequential pieces of legislation passed in decades, and in just one year it is already paying huge dividends for the American people, for our economy, and for our environment.
Since we passed the Inflation Reduction Act, costs are down for families. For the first time ever, we made it possible for Medicare to negotiate the price of prescription drugs. Vaccines are free for Medicare beneficiaries. A cap on out-of-pocket drug spending for seniors is just a few months away. No one will pay more than $2,000 a year for expensive drugs that they need to save their lives.
And, of course, after a lot of hard work, we also capped the price of insulin for seniors on Medicare to $35--only $35--a month. Since then, Ely Lilly and Novo Nordisk have also lowered insulin costs for everybody.
And we hope to build on all of this work with additional legislation later this year. Every American deserves to have affordable insulin, not just those on Medicare. Let's not forget that the patent for insulin expired a long time ago. It was invented in 1921 or 1922--I believe it was--by a Canadian inventor who sold the patent for only a dollar. So there is no need to have insulin at the exorbitant high price that it is for those not on Medicare.
The Inflation Reduction Act has also helped countless Americans manage their energy costs. The tax credits and rebates on energy efficiency are helping Americans keep their homes warmer in the winter and cooler in the summer, all at a more affordable price, while at the same time reducing our carbon emissions.
And a few weeks ago, we saw that inflation slowed down to just 3 percent, the lowest it has been in over 2 years. In fact, since we passed the Inflation Reduction Act, inflation has been cut by more than half on an annual basis, and wage growth is still continuing to grow. It is now significantly above inflation, meaning workers are taking home more while spending less. That is the emblem of an economy that America needs.
And, of course, the IRA is also paving the way for millions-- millions--of new good-paying green jobs. The IRA produced a boom in clean energy investment with nearly 80 new clean energy manufacturing facilities announced across the country.
So when you put it all together, the Inflation Reduction Act is a shining example of the Democratic agenda in action: lower costs for families, higher wages for workers, and millions--millions--of new good-paying jobs for years to come.
Democrats are proud of the progress we have made in implementing our agenda and will keep working until every American feels the benefits.
Honoring Officer Jacob J. Chestnut and Detective John M. Gibson
Mr. President, finally, on a sad anniversary, yesterday marked 25 years since Detective John Gibson and Officer Jacob Chestnut of the Capitol Police were killed in the line of duty while defending the Capitol Building.
It was a dark day in the history of the Capitol, and it would have been even darker if not for the heroics of Detective Gibson and Officer Chestnut. In the face of grave danger, they acted with extreme valor and courage, undoubtedly saving the lives of many others in the building that day.
We are grateful for their sacrifice 25 years ago and grateful for the work the Capitol Police do every day to keep the Capitol Complex and those who work here safe.
And we pray that their families have some degree of peace, even though they have huge holes in their heart with these terrible losses.
I yield the floor.
I suggest the absence of a quorum.
I announce that the Senator from Illinois (Mr. Durbin), is necessarily absent.
I announce that the Senator from Illinois (Mr. Durbin) is necessarily absent.