Democrat Spending Nears $3.5 Trillion With Inflation Reduction Act

Senate Majority Leader Chuck Schumer (D-N.Y.) speaks during a news conference about the Inflation Reduction Act outside the U.S. Capitol in Washington on Aug. 4, 2022. Drew Angerer/Getty Images

The passage of the Inflation Reduction Act over the weekend brings the total amount of spending in the pipeline by congressional Democrats to around $3.5 trillion since President Joe Biden took office, with the imposing tally coming as Americans struggle with an inflationary cost-of-living crisis.

Senators passed the sweeping bill (pdf), estimated at $740 billion, in a 51–50 vote on Aug. 7, with Vice President Kamala Harris casting the tie-breaking vote.