Biden To Apply Pressure On Congress To Pass IRA In Roundtable

President Biden is shortly due to host a roundtable event with business and labor leaders to discuss the Inflation Reduction Act, the USD$740 billion reconciliation bill negotiated by Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV).

• Livestream here: https://www.youtube.com/watch?v=pbpwTkZY4ME
• The White House has been active this week issuing statements to repudiate Republican claims that the legislation will exacerbate inflation.
• White House Press Secretary Karine Jean-Pierre said: "...former Treasury Secretaries from both the Democratic and Republican administrations... Larry Summers, Tim Geithner, Jack Lew, Hank Paulson, and Bob Rubin joined over 120 leading economists, including Nobel Prize winners, CBO directors, who have analyzed the Inflation Reduction Act and agree it will lower costs, reduce inflation, address a range of critical and longstanding economic challenges."
• Earlier today, the White House flagged a statement from the National League of Cities CEO Executive Director Clarence E. Anthony endorsing the Inflation Reduction Act, writing: "We urge the Senate to pass this bill and the House to take it up quickly."
• Biden is expected to use the event to implicitly apply pressure on centrist Democrat Senator Krysten Sinema (D-AZ) who is seen as the most likely impediment to passage of the bill.
• The most likely path forward is a “vote-a-rama" over the weekend, but concerns remain over ongoing scrutiny from Senate Parliamentarian Elizabeth MacDonough and the timing of when to bring the bill to the Senate floor considering the looming August recess.