Bernie Sanders knocks Schumer and Manchin's big climate and healthcare bill, calling it the 'so-called Inflation Reduction Act'

After more than a year of debate, the Senate tried to pass a piece of Biden's economic agenda on Saturday, but was blasted by Sen.

"I want to take a moment to say a few words about the so-called Inflation Reduction Act that we are debating this evening," he said. The bill will have a minimal impact on inflation according to the CBO.

The $740 billion proposal brokered by Senate Majority Leader Chuck Schumer and Sen. Joe Manchin would impose a 15 percent minimum tax on large corporations and invest millions in green energy.

The CBO, or Congressional Budget Office, is a nod to the nonpartisan scorekeeper's finding that the proposal is negligible at the moment.

One amendment that will be introduced by the independent is one that would allow Medicare to pay the same amount as the VA for prescription drugs. Both Democrats and Republicans voted against his amendment to cap costs for covered prescription drugs under Medicare parts B and D.

The amendment would require Medicare to cover dental, vision, and hearing benefits. The Vermont senator's third amendment to create a Civilian Climate Corps failed to get the necessary votes.

The Republicans used the CBO's findings to criticize the Democrats. The proposal has been referred to as the so-called Inflation Reduction Act.

I don't say this a lot. The second-ranked Senate Republican, John Thune of South Dakota, told Insider that he agreed with the idea.

Universal pre-K, tuition-free community college, and in- home care for the elderly were not included in Biden's larger "Build Back Better" agenda.

A drug pricing provision that will take years to kick in was criticized by the Vermont senator and former presidential candidate. He said it was an "incredibly weak bill." The provisions that would expand fossil fuel exploration were added to the bill in order to get Manchin's approval.

The major crises facing working families were pressed on by the senator.

It's questionable how long we will remain a democracy if we can't do that, he said.

The chairman of the powerful Finance committee, Sen. Ron Wyden, said he shared the hope that the bill would go further. Wyden believes the bill still takes major steps.

Wyden told reporters that he would like to do more himself, more quickly, and that it was not a close call.