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Senate Concludes Vote-a-Rama, Passes Inflation Reduction Act. Taxation & Representation. - Pat Soldano

The Senate voted to pass the $750 billion Inflation Reduction Act (H.R. 5376) along party lines (51-50) this afternoon, concluding a marathon session that began  Saturday evening. As expected, Vice President Kamala Harris cast the tie-breaking vote to approve the bill.

The legislation will now be sent to the House of Representatives for consideration. House leadership announced last week that the chamber will return on Friday, Aug. 12 to vote on H.R. 5376. The House is not expected to make further changes to the legislation, and House passage of an unaltered bill would send it to President Joe Biden’s desk for final signature.

The Senate concluded its vote-a-rama on H.R. 5376 earlier today after approximately 15 hours of activity. The vote-a-rama was preceded by four hours of debate on the bill. Click here  to see our final vote-a-rama tracker, which includes descriptions of the amendments, notes on discussion and information on final votes.

To read more about the amendments and the process of their passage, please click below.

Our thanks to Brownstein Hyatt Farber Schreck for this report. Read more about the amendments and the process of their passage.

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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill.  Those issues include Step Up in Basis, gift tax, Valuation Discounts, Capital Gains Tax, Income Tax Rates, Wealth Tax, & Estate Tax (death tax).


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Family Enterprise USA is the organization that represents all family businesses on a national level in DC; it is not unique to any industry. Family Enterprise USA is different from other organizations because it represents and advocates for the families of family businesses, generationally owned businesses, and multigenerational businesses, and the issues, they face running their businesses every day including Step Up in Basis, gift tax, Valuation Discounts, Capital Gains Tax, Income Tax Rates, Wealth Tax, & Estate Tax (death tax).

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Family Enterprise USA is the organization that represents all family businesses on a national level in DC; it is not unique to any industry. Family Enterprise USA is different from other organizations because it represents and advocates for the families of family businesses and the issues, they face running their businesses every day. Our sole mission and purpose is to promote family businesses and their job growth in America. We also support the work of Family Business Centers across the country. We hope your family will choose to be a member of Family Enterprise USA.