The “Inflation Reduction Law” was approved by the Senate on Sunday, after a 27-hour session. An approval from the House of Representatives will allow Joe Biden to sign the bill into law.
Key triumph amid turbulence
“The democrats of the House of Representatives will approve and send to the president the historical Inflation Reduction Act”, predicted this week the president of the House of Representatives, Nancy Pelosi, in a letter addressed to his party colleagues. “This project makes a huge difference at the table for American families.”
The republicans oppose the law, warning that it will kill jobs by raising corporate tax bills, further encourage inflation with more public spending and will inhibit the development of new drugs.
The bill has been in the making for more than 18 months.. This is a final version of Joe Biden’s original broad plan.”build back better” (Build Back Better), which had to be scaled back in the face of opposition from Republicans and key lawmakers from his own party.
Democrats, weighed down for months by inflation and Biden’s anemic job approval numbers, hope the legislation will help them at the polls in November, when voters decide the balance of power in the US Congress ahead of the elections. presidential election of 2024.
Joe Biden himself is scheduled to travel around the country to promote the law along with other legislative victories as a victory for voters and a defeat for special interests.
Republicans are favorites to win a majority in the House of Representatives in November and could also take control of the Senate.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
