By — Associated Press Associated Press Leave your feedback Share Copy URL https://www.pbs.org/newshour/politics/watch-pelosi-says-inflation-reduction-act-is-historic-and-transformative Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter WATCH: Pelosi says Inflation Reduction Act is ‘historic and transformative’ Politics Aug 12, 2022 3:05 PM EDT House Speaker Nancy Pelosi says the Inflation Reduction Act is “historic and transformative.” Watch the briefing in the player above. Pelosi’s comments came Friday just before the vote on the House floor. The estimated $740 billion package, already passed by the Senate is full of party priorities. Those include capping prescription drug costs at $2,000 out of pocket for seniors, helping Americans pay for private health insurance and what Democrats are calling the most substantial investment in history to fight climate change, some $375 billion over the decade. Almost half the money raised, $300 billion, will go toward paying down federal deficits. It’s all paid for largely with new corporate taxes, including a 15 percent minimum tax on big corporations to ensure they don’t skip out on paying any taxes at all, as well as projected federal savings from lower Medicare drug costs. READ MORE: Donald Trump’s bond with the GOP deepens after primary wins, FBI search Pelosi also commented on the retrieval of documents from former President Donald Trump’s Florida estate, calling it a “very serious” situation. Pelosi’s comments come on the same day a federal judge was to decide whether to grant the Department of Justice’s request to unseal the warrant that authorized the FBI to search former President Donald Trump’s Florida estate. Attorney General Merrick Garland declared there was “substantial public interest in this matter,” and Trump backed the warrant’s “immediate” release. The decision on whether to unseal the records lay with U.S. Magistrate Judge Bruce Reinhart, the same judge who signed off on the search warrant. The Justice Department had until Friday afternoon to tell the judge whether Trump’s lawyers agree or disagree with the proposal to make it public. In messages posted on his Truth Social platform, Trump wrote, “Not only will I not oppose the release of documents … I am going a step further by ENCOURAGING the immediate release of those documents.” He continued to assail the FBI search of Mar-a-Lago as “unAmerican, unwarranted and unnecessary.” Trump himself has been given at least some of the records the government was seeking to unseal, but he and his lawyers have declined, so far, to make them public. Pelosi also called out Republicans for not stepping forward to stop any violence from supporters of the former president. “You would think there would be an adult in the Republican room that would say, just calm down, see what the facts are, and let’s go for that instead of insisting, again, instigating assaults on law enforcement.” A gunman died Thursday in a shootout after trying to get inside the FBI’s Cincinnati office. 42-year-old Ricky Shiffer appeared to have posted calls on social media for FBI agents to be killed and for people to take up arms and “be ready for combat” in the wake of the search at Trump’s home, a law enforcement official said. By — Associated Press Associated Press
House Speaker Nancy Pelosi says the Inflation Reduction Act is “historic and transformative.” Watch the briefing in the player above. Pelosi’s comments came Friday just before the vote on the House floor. The estimated $740 billion package, already passed by the Senate is full of party priorities. Those include capping prescription drug costs at $2,000 out of pocket for seniors, helping Americans pay for private health insurance and what Democrats are calling the most substantial investment in history to fight climate change, some $375 billion over the decade. Almost half the money raised, $300 billion, will go toward paying down federal deficits. It’s all paid for largely with new corporate taxes, including a 15 percent minimum tax on big corporations to ensure they don’t skip out on paying any taxes at all, as well as projected federal savings from lower Medicare drug costs. READ MORE: Donald Trump’s bond with the GOP deepens after primary wins, FBI search Pelosi also commented on the retrieval of documents from former President Donald Trump’s Florida estate, calling it a “very serious” situation. Pelosi’s comments come on the same day a federal judge was to decide whether to grant the Department of Justice’s request to unseal the warrant that authorized the FBI to search former President Donald Trump’s Florida estate. Attorney General Merrick Garland declared there was “substantial public interest in this matter,” and Trump backed the warrant’s “immediate” release. The decision on whether to unseal the records lay with U.S. Magistrate Judge Bruce Reinhart, the same judge who signed off on the search warrant. The Justice Department had until Friday afternoon to tell the judge whether Trump’s lawyers agree or disagree with the proposal to make it public. In messages posted on his Truth Social platform, Trump wrote, “Not only will I not oppose the release of documents … I am going a step further by ENCOURAGING the immediate release of those documents.” He continued to assail the FBI search of Mar-a-Lago as “unAmerican, unwarranted and unnecessary.” Trump himself has been given at least some of the records the government was seeking to unseal, but he and his lawyers have declined, so far, to make them public. Pelosi also called out Republicans for not stepping forward to stop any violence from supporters of the former president. “You would think there would be an adult in the Republican room that would say, just calm down, see what the facts are, and let’s go for that instead of insisting, again, instigating assaults on law enforcement.” A gunman died Thursday in a shootout after trying to get inside the FBI’s Cincinnati office. 42-year-old Ricky Shiffer appeared to have posted calls on social media for FBI agents to be killed and for people to take up arms and “be ready for combat” in the wake of the search at Trump’s home, a law enforcement official said.