Inflation Reduction Act will reduce planet-heating emissions and lower prescription drug costs – and give Biden a crucial victory
Senate Democrats passed their climate and healthcare spending package on Sunday, sending the legislation to the House and bringing Joe Biden one step closer to a significant legislative victory ahead of crucial midterm elections in November.
If signed into law, the bill, formally known as the Inflation Reduction Act, would allocate $369bn to reducing greenhouse gas emissions and investing in renewable energy sources. Experts have estimated the climate provisions of the bill will reduce America’s planet-heating emissions by about 40% by 2030, compared with 2005 levels.
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