TELETRADER News
8/7/2022, 11:21 PM (Source: TeleTrader)
more TeleTrader news

Senate passes Inflation Reduction bill

The United States Senate passed on Sunday the Inflation Reduction Act of 2022 which has a goal to fight inflation by lowering the country's deficit, reducing health care costs, and investing in cleaner energy sources.

The anti-inflation bill passed 51-50, as all the Democrats voted in favor of it, while all the Republicans voted against it. The tie-breaking vote was cast by United States Vice President Kamala Harris.

Should the bill be signed into law, it would raise $739 billion and authorize $369 billion for greener energy sources. The legislation now awaits the approval of the House, after which it will be passed on to US President Joe Biden for signing.

Baha Breaking News (BBN) / AY