The US Senate yesterday August 8,2022 passed the inflation Reduction Act with a 50-51 votes and the act is aimed at reducing cost of health care expenditure,reduce inflation and fight climate change. It includes provision, tax changes, drug pricing provision and more.
The US government praised Senate Democrats on his official twitter for voting to lower the cost of Rx drugs, health insurance, and energy- all while reducing the deficit and making the richest corporation pay their fair share. I ran to make government work for working families again.
The act now set the minimum corporate tax rate at 15%. The legislation will be sent to the White House for President Joe Biden Approval.