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)
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Key points about Joe Biden’s ambitious climate, tax and healthcare plan. (Image: News18 Creative)
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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)
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The bill makes the largest investment ever in combating the existential crisis of climate change. (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)
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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)
