Biden signs anti-inflation bill

The law provides, in particular, for the reduction of healthcare costs, the transition to clean energy and electric vehicles, as well as tax reform 85/756606851678855.jpg 673w” media=”(max-width: 320px) and (-webkit-min-device-pixel-ratio: 2), (max-width: 320px) and (min-resolution: 192dpi)” >

US President Joe Biden signed a law that should help reduce inflation, the White House said.

The law provides, in particular, to reduce health care costs, energy, reduce harmful emissions, tax reform, and reduce the deficit.

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For example, families that switch to clean energy and electric vehicles will be able to save more than $1,000 a year. Americans will be able to get rebates or tax credits for buying heat pumps or installing solar panels, saving them up to $750 a year. And discounts on the purchase of new or used electric vehicles will help save up to $950 per year.

A 15 percent minimum corporate income tax is being introduced. At the same time, no family earning less than $400,000 a year will receive an increase in the tax burden.

In mid-August, the U.S. House of Representatives passed a bill that would allocate $430 billion to health care, combat climate change and reduce inflation. The bill, called the Inflation Reduction Act, received 220 votes in favor and 207 votes against, with all Democrats in favor and all Republicans opposed. Prior to this, the Senate approved the initiative.

In March, the consumer price index— the main indicator of inflation in the US— grew by 8.5%, the highest level since 1981. Consumer prices soared 9.1% in June, hitting a nearly 41-year high. After that, inflation slowed down.

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