WASHINGTON (Reuters) – The U.S. Senate on Sunday passed a $430 billion (422 billion euros) plan to fight climate change, lower drug prices and raise some corporate taxes.
The law, called the “Inflation Reduction Act”, passed by a vote of 51 to 50, with Vice President Kamala Harris holding the deciding vote.
The Senate’s decision is a significant victory for US President Joe Biden just months into the midterms, which will determine control of the House of Representatives and Senate for the next two years.
The text must now be considered by the House of Representatives, where a final vote is expected on Friday. Joe Biden called on the House to vote as soon as possible, adding that he was eager to enact the law.
“The Senate is making history,” said Chuck Schumer, the Senate Majority Leader. “To Americans who have given up on the idea that Congress can do great things, this law is for you.”
“This law will change America for decades,” he added.
The plan aims to reduce greenhouse gas emissions and steer consumers toward green energy, reduce prescription drug costs for seniors, and strengthen corporate tax enforcement.
(Report Richard Cowan, Rose Horowitch, David Morgan and Makini Brice; French version Camille Raynaud)
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