the semiconductor industry to assist with the manufacturing of computer chips amid an interesting wide shortage. 20 -- 24 reppo plug-ins -- 24 republicans voted in paper the bill. the legislation already passed by the senate now heads to president bynum for his signature. >> senate majority leader chuck schumer reacted to congress passing the chips bill and sending it to the desk of the president. he went into more detail about a compromise deal in the senate with joe manchin to address prescription drug prices, climate change in the budget deficit. he says to expect work on the legislation to begin next week.

sen. schumer: good morning, everybody. [laughter] [indiscernible] [laughter] why don't you get a different color for each day? ok. well, it has been a momentous 24 hours here in congress. a legislative 1-2 punch that the american people rarely see. a little while ago the house voted to approve the largest investment to lowering costs, increasing manufacturing, investing in science and helping fix our semiconductor crisis. the chips and science bill, after three long years, now goes

to the president's desk. last night, senator manchin and i announced an agreement on a reconciliation package, the inflation reduction act that will finally deliver on some of the biggest challenges facing the american people -- lowering costs, fighting inflation, fighting climate change, and making health care more affordable in this country. again, the past 24 hours have been a legislative 1-2 punch that americans rarely see and will benefit them immensely. a bill to supercharge american industry and a bill to fight inflation and mark day turning point in our fight against climate change. you know, for years, decades, even many in washington have promised to address some of the biggest challenges facing our nation, only to ultimately fail to deliver. with the inflation reduction act of 2022, this senate democratic

majority will finally take on big pharma and lower prescription drug prices. this senate democratic majority will tackle the climate climate crisis with urgency and vigor. this senate democrat democratic majority will ensure the wealthiest corporations and individuals pay a fairer share in taxes. and this democratic majority will reduce the deficit by a wide margin. this legislation will be the greatest pro climate legislation that congress has ever ever passed. this legislation fights the climate crisis with the urgency that the situation demands. and puts the us on a path to, to reduce by roughly 40% emissions by 2030. that is a very strong goal. and this legislation puts us on the path to do it all the while

creating new good paying jobs in both the near and long term. this morning, i met with my democratic colleagues to discuss this bill and discuss the path to passing it in the next week in the senate. i expect the remaining work with the parliamentarian will be completed in the coming days and the senate will vote on this transfer formative legislation next week. look, we now have been in the longest 50 50 senate ever. someone's reminding me of that. [laughter] yes, brian, it was the longest ever. shots. every one of my democratic senators has my phone number and i talk to them directly. that's how you keep a caucus that runs from sanders to manchin together. conversation. not email.

talking. anyway, we've been the longest 5050 majority, 5050 senate in the history of america. it's been a wild ride. there have been a lot of ups and downs when we were in the minority for many years before this congress we , often talked as a caucus about what we would do if we got the majority back. we talked about expanding and improving the a. c. a. the affordable care act, about passing a large infrastructure bill, about finally doing something about gun safety and mental health, about bringing manufacturing jobs back home and stopping them from going to china and competing with countries around the world successfully. but at the top of the list, we regularly talked about two things that the party and the country have been fighting to do for over a decade, letting medicare negotiate for prescription drugs and fighting the existential threat that climate change brings to our glow. we've now passed these we now have the opportunity to get these two hugely important priorities passed before the

august recess and i believe we will get it done. yes. reporter: [indiscernible] sen. schumer: look, the members are reviewing the text. it is a long text. 700 pages. i giving everyone time to review am the text. in the meantime, we are continuing with the birdbath and we expect to remove to move forward next week. yes. reporter: [indiscernible] sen. schumer: members are reviewing the text and we will all be talking shortly. we hope to finish with the parliamentarian. it's going to be hard to do that because it's a shortened timeline with a large bill and move to the senate floor next

week. yes. reporter: [indiscernible] sen. schumer: it's always a worry. it's made life much harder in a 5050 senate but we're gonna have to persevere. yes. we will be adding things on insulin to the reconciliation proposal. yes. reporter: [indiscernible] sen. schumer: look, we are going to work out how to how to pass this bill successfully going through vote a rama and i think we'll have the cooperation of all 50 of the members. reporter: as you know, during the july recess leader mcconnell , said if you guys continue to work on the reconciliation package, republicans would block

the chips bill on july 14. [indiscernible] sen. schumer: good try with flattery. [laughter] look, because of the length of the parliamentary birdbath we , wanted to get things done as quickly as possible. senator manchin came to visit me on the in other words the talks 18th. broke up on thursday the 14th. the whole nation was aware of it over the weekend and senator manchin requested a meeting with me on the 18th and he said can we work together and try and put together a bill? i said as long as we finish it in we're not august. waiting for september or august 10th or whatever else. and so we worked hard on the bill. it took a long time and we wanted to move as quickly as possible. we

got the j. c. t. score tuesday night and we went public wednesday. reporter: [indiscernible] sen. schumer: look, electric vehicles are something that have been very sought after by many in our caucus. i proposed the clean cars in america act several years ago as you may remember which was the core of this. senator manchin had some real disagreements about it and so we tried to come to a compromise. it's not everything i would want. but there is a provision in the bill. it is a very small percentage of the 40%. senator manchin wanted certain things in the bill that the vast

majority in our caucus did not want. but we had a northstar. getting to 40% was a remarkable achievement and that included the things we did not like that senator manchin put in the bill. on the leasing permissions, it is the existing provisions that president biden had already announced. and only in areas where there already has been some offshore drilling in the gulf of mexico and alaska. so sticking to the 40% is what really counts, the amount of carbon that goes into the atmosphere much as i would have personally never put these provisions in the bill, but we had to get it done and we need 50 votes. this was the other thing other than leasing that senator

manchin asked for. we came together on a provision, it has a few good things in it, you know, there's some kinds of permitting that get in the way of clean energy as well. uh things that i wouldn't like. we will we have come to an agreement between senator manchin, president biden, speaker pelosi and myself that we would try to get that provision in the cr. he was not, he was not, it was the basic the whole negotiations both before the 14th and 18th and afterwards, it was just he and me. ok, yes, last one. reporter can you share a little : bit more about your conversations with house progressives and any concerns about house moderates. sen. schumer: well, i talked to

this progression of the cpc today. uh congresswoman jayapal was very laudatory of the agreement as was just about everybody on the phone, everyone real speaker pelosi said it best. she said when you look at this agreement, you don't look at what's not in it. all of us would have wanted more in it. you look at what's in it and what's in it is dramatic significant and will move america forward. senator manchin -- he is opposed to it. i got to get a bill done. i love i would love to do it. but he's opposed. okay, again we will we will we will get this. this is is the example opportunity to get this in the cr and other must pass bills. thank you, everybody. reporter: [indiscernible] sen. schumer: we will give our

republican friends another opportunity to vote on it monday night. we offered them -- we offered to me standing in the way the ability to do an amendment at 60 votes just like the bill is a 60 vote bill. he insisted at least in conversations with some others saying no no no. if you don't put it in the bill which will kill the bill. i'm not gonna be for it. but we stand by the offer. i stand by the offer. we will give senator toomey a right to bring his amendment to the floor and try to get the votes for it. thank you. 60, just like the bill is at 60. thank you.

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