Lawmakers are working on getting the Inflation Reduction Act passed before the looming Congressional recess. The bill, which is a revival of President Biden’s Build Back Better bill, aims to invest more than $400 billion over the decade by reforming the tax code, cutting health care costs and fighting inflation. Before the bill can go to a vote, it must first pass reconciliation or the “Byrd Bill”, which could take up to a week. The bill’s provisions were negotiated between Senate Majority Leader Schumer (D-NY) and Senator Joe Manchin (D-WV).

Source: CNBC.com