President Biden Signs Massive Climate And Health Care Legislation

The Inflation Reduction Act, signed into law by President Biden, is a $750 billion bill focusing on healthcare, corporate taxes, and climate change. It aims to reduce healthcare costs, promote clean energy, and lower greenhouse gas emissions. The Act is funded by raising corporate taxes and increasing IRS audits. While it may not directly reduce inflation, it is seen as a significant legislative victory for the Biden administration, especially in an election year. The Act also emphasizes environmental justice and aims to create clean energy opportunities in affected communities.

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