US President Joe Biden signed the law that includes comprehensive health, climate and tax regulations aimed at reducing inflation.
US President Joe Biden approved the “Reducing Inflation Act”, which was approved by the Congress, at the signing ceremony held at the White House.
“This is a big step”
In his speech at the ceremony, Biden said the law is one of the most important in the history of the United States. “This law is the biggest step in climate ever made.” made its assessment.
Noting that the law will allow the United States to take bold additional steps to combat climate change, Biden said that it will provide significant benefits to Americans struggling to receive health care.
“The budget deficit will decrease by more than 300 billion dollars in the next 10 years”
Biden emphasized that the budget deficit will be reduced by more than 300 billion dollars in the next 10 years, and that the deficits will be reduced to combat inflation.
Stating that the rich will pay their “fair share” of taxes, Biden said that large companies will now pay a minimum of 15 percent corporate tax, according to the news in AA.
“The American people won, private interests lost”
Biden accused the Republicans in Congress of being in favor of their private interests, and stated that the Democrats stood by the American people, while the Republicans voted against this law. President Biden “The American people won and private interests lost.” said.
It is interpreted as a “victory” for the Biden administration before the midterm elections
The law, which is also seen as the biggest “climate package” in US history, is evaluated as the political and economic “victory” of the Biden administration before the midterm elections on 8 November.
The law in question includes regulations on combating climate change, reducing drug prices and taxation.
The law aims to reduce greenhouse gas emissions and direct consumers towards green energy, reduce the cost of prescription drugs for the elderly, and tighten taxation for companies and the wealthy.
Within the scope of the law, which is argued to help reduce inflation, new tax regulations and prescription drug pricing reform are expected to provide $ 739 billion in revenue and $433 billion in spending over the next 10 years. It is reported that the law will reduce the budget deficit by more than 300 billion dollars.
369 billion dollars resource for investments to combat climate change
In the draft, 369 billion dollars are allocated for investments in energy security and combating climate change.
With these investments, it is aimed to reduce energy bills between 500 and 1000 dollars a year, to reduce carbon emissions by 40 percent until 2030, and to contribute to employment with new projects to be implemented.
In addition, 64 billion dollars are allocated to reduce health insurance costs with the law, and it is aimed to save 13 million families an average of 800 dollars a year.
