Senate Majority Leader Schumer aims to pass the Inflation Reduction Act of 2022 this week. However, that vote may slip to next week. The Senate parliamentarian is still reviewing the draft bill to ensure it complies with budget reconciliation rules. It is unclear when the parliamentarian review process will conclude, and the amount of changes that staff will have to make to finalize the bill. We are also expecting new language on the prescription drug front that will incorporate insulin pricing protections. Exact timing depends on the Parliamentarian review, the health of all 50 Democratic Senators, and whether Senator Sinema will vote for it as constructed. Regardless of the exact timing in the Senate, the House of Representatives will likely be called back into session to consider the reconciliation bill after that, as the House is on recess.

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