The US Senate on Sunday approved a huge package of measures worth 430 billion dollars (more than 422 billion euros). In the coming years, that money will mainly be invested in climate measures. Medicines will also become cheaper and there will be tax benefits for companies with climate-friendly initiatives.
The law is officially called the Inflation Reduction Act (law to limit inflation). The US will use the money, among other things, to reduce CO2 emissions by 40 percent by 2030. In addition, Americans will pay less for necessary medicines and energy.
Americans can also apply for a subsidy for the purchase of solar panels and heat pumps. Companies that invest in clean energy and other climate-friendly initiatives can count on tax benefits.
After two days of debate, the senators finally reached a vote on Sunday. It was fifty to fifty in the 100-strong Senate, but the vote of Vice President Kamala Harris was decisive.
“With this package, we are taking a historic step for the American people. It is time to look to the future, and that is what we are doing with this decision,” said Chuck Schumer, the leader of the Democratic Senate group.
The bill has to pass the House of Representatives again, but that is a formality. The Democrats have a majority there and will vote Friday to the proposal submitted by their party.
Getting the bill through the Senate is a big win for Democrats and President Joe Biden with the midterm elections just around the corner. The Democrats are in danger of losing their majority in the House of Representatives in November.
The vote of Vice President Kamala Harris was decisive in the Senate.
The vote of Vice President Kamala Harris was decisive in the Senate. Photo: Getty Images
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