Good morning. Welcome to Axios today. It's Monday, August 8th. I'm Naila Boudou. Here's what we're

covering today. Why this weekend's conflict in Gaza was different. Plus, rents are skyrocketing

everywhere. But first, today's one big thing, a massive victory for Senate Democrats.

How massive a win? 740 billion dollars worth in a tax, climate, and healthcare bill that

was passed after 24 straight hours of debate in the Senate. The Inflation Reduction Act

includes lowering the cost of prescription drugs, raising taxes on corporations, and the

largest investment in clean energy and emissions cuts the Senate has ever passed. Axios Congress

National reporter Elena Trin has been covering this weekend voter rama. Hi, Elena.

Hi, Naila. Even with everything I just said, Elena, this bill isn't as ambitious as Democrats

initially wanted. So what did finally make it in here? Yes, it's not quite the 3.5 trillion that

was initially slated for the build back better package. But this bill is huge and it really

addresses the core priorities, I think, that Democrats have been talking about since Biden took

office. 370 billion for climate change. That is massive. We have not seen a investment this large

in clean energy in the Senate ever. It also allows the federal health secretary to negotiate the

prices of certain expensive drugs for Medicare. That's including the insulin cap. They also wanted

to have an insulin cap at $35 for commercial drugs, but Republicans voted that down. There's also

a three-year extension on health care subsidies in the Affordable Care Act. 15% minimum tax on

corporations making $1 billion or more. There's more IRS tax enforcement, and there's also 1%

excess tax on stock buybacks. So, Elena, what happens next? Well, the bill is now headed to the house.

They're expected to take this up on Friday. And it really is expected to remain intact. I think

there's a lot of provisions that a series of Democrats wish were in the bill that aren't in the

bill, but by and large, they look like they're going to hold firm in their unity on this and get

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