Three months before the US midterm elections, President Joe Biden this Friday received final approval from Congress for his ambitious tax, climate and environmental bill.
The so-called Inflation Reduction Act won 220 votes in favor and 207 against in the Democrat-controlled House of Representatives.
Last weekend in the Senate, where the Democratic majority is thin, it required a tie-breaking vote by Vice President Kamala Harris, who also serves as speaker of the upper house.
The legislation calls for investments of about $669 billion in total to reduce price increases, fight climate change and lower the cost of prescription drugs, giving Medicare, the health coverage plan for people age 65 and over, the power to trade it.
To fund the bill, Democrats are betting on a minimum tax of 15% on companies with profits of more than $1 billion and on beefing up the tax collection agency to make it harder to avoid payments while ensuring there will be no new charges. taxes for those earning less than $400,000.
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