Go Ad-Free
My Alerts
Moneycontrol
Moneycontrol PRO
Get App Open
In App
News on WhatsApp
News on WhatsApp
Go PRO Now
Open App
HomeNewsworld

US Inflation Reduction Act: A step towards greener America

The Inflation Reduction Act passed by the US Senate and why it’s being seen as a step towards a greener America.

Moneycontrol News | August 09, 2022 / 11:32 IST
1/6
The US Senate has passed the Inflation Reduction Act of 2022 – a pared-down version of US President Joe Biden’s Build Back Better Act – which includes the largest climate spending package in US history. (Image: News18 Creative)
The US Senate has passed the Inflation Reduction Act of 2022 – a pared-down version of US President Joe Biden’s Build Back Better Act – which includes the largest climate spending package in US history. (Image: News18 Creative)
2/6
Key points about Joe Biden’s ambitious climate, tax and healthcare plan. (Image: News18 Creative)
Key points about Joe Biden’s ambitious climate, tax and healthcare plan. (Image: News18 Creative)
3/6
The bill takes on making prescription drugs more affordable by allowing Medicare (an insurance programme) to negotiate for cheaper prescription drug prices for certain very expensive medications. (Image: News18 Creative)
The bill takes on making prescription drugs more affordable by allowing Medicare (an insurance programme) to negotiate for cheaper prescription drug prices for certain very expensive medications. (Image: News18 Creative)
4/6
The bill makes the largest investment ever in combating the existential crisis of climate change. (Image: News18 Creative)
The bill makes the largest investment ever in combating the existential crisis of climate change. (Image: News18 Creative)
5/6
The investments will be funded primarily by drug pricing and tax reforms. The package keeps to Biden’s pledge not to raise taxes on those earning less than $4,00,000 a year. (Image: News18 Creative)
The investments will be funded primarily by drug pricing and tax reforms. The package keeps to Biden’s pledge not to raise taxes on those earning less than $4,00,000 a year. (Image: News18 Creative)
6/6
The $430 billion spending plan will go to the House of Representatives next week, where it is expected to pass before being signed into law by US President Joe Biden. (Image: News18 Creative)
The $430 billion spending plan will go to the House of Representatives next week, where it is expected to pass before being signed into law by US President Joe Biden. (Image: News18 Creative)

Discover the latest Business News, Budget 2025 News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347