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Inflation Reduction Act heads to the House

Biggest climate bill in U.S. history
A new 'Dreamers'-related bill, H.R. 6, recently passed the House of Representatives, but faces an uphill battle in the Senate.
Posted at 9:35 AM, Aug 08, 2022
and last updated 2022-08-08 11:05:21-04

It looks like the U.S. will make a push to go greener after Senate Democrats passed a climate and economic package April 7.

The Inflation Reduction Act aims to reduce health care and prescription drug costs while investing nearly $400 billion in efforts to fight climate change.

Vice President Kamala Harris cast the deciding vote as the Senate approved a budget bill that addresses a number of President Biden's legislative priorities.

The bill would provide tax credits for things like solar panels and electric HVAC systems, and it extends a credit for electric vehicles.

It would also invest at least $60 billion in domestic clean energy solutions. In addition to green initiatives, it seeks to rein in prescription drug prices for those on medicare. And it would impose a minimum 15 percent tax on large corporations.

"We're actually bringing the labor community along. We're bringing investments in manufacturing,” said Gina McCarthy White House National Climate Advisor.

The bill probably won't get much Republican support in the House after getting none in The Senate.

“Leaving Americans with higher electric bills, higher utility bills, higher gas prices and more dependence on foreign countries that don't like us," said Sen. Mitch McConell (R) Minority Leader.

"We're in a recession. Why would you be increasing the cost of government? Increasing taxes,” said Sen. Rick Scott (R) Florida

The House is expected to vote on the measure on Friday.