A $430 billion bill that is regarded as the largest climate package in American history was approved by the Democratic-led House of Representatives on Friday, giving President Joe Biden a significant legislative victory before the Nov. 8 midterm elections.
Domestic greenhouse gas emissions are to be reduced as a result of legislation to combat climate change and reduce the cost of prescription drugs. Additionally, it will enable Medicare to negotiate lower drug costs for senior citizens and ensure that wealthy individuals and corporations pay their fair share of taxes. Democrats claim that by lowering the federal deficit, it will help fight inflation.
The ‘Inflation Reduction Act’ was approved by the House by a party-line vote of 220-207 and was then forwarded to Biden for signing. After a long, 27-hour session, the Senate passed the bill on Sunday.
The White House would hold a celebration on September 6 in honour of what, according to Biden, would be historic legislation after he signs the bill in the coming week.
‘The American people prevailed today. lost special interests,’ In a tweet, Biden stated.
When voters decide the composition of Congress in November, in advance of the 2024 presidential election, Democrats are hoping that the legislation will help them in the polls. Republicans have a good chance of taking control of the Senate and are expected to win a majority in the House.
Just before the vote, Pelosi proclaimed, ‘It is a resounding victory for America’s families,’ calling the legislation ‘a robust cost-cutting package that meets the moment, ensuring that our families thrive and that our planet survives.’
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