Passing the bill after months of contention is seen as a major victory for US President Joe Biden ahead of the November 8 midterm elections.
The bill passed the Senate by 50 votes to 51. All 50 Democrats supported the bill, while all 50 Republicans voted against it. Deputy Head of Equality Kamala Harris overturned the vote. Republicans argue that the bill will make the economy worse.
The bill reportedly represents the largest climate investment in U.S. history, includes major changes in healthcare, authorizing for the first time negotiating the price of certain prescription drugs and extending expiring healthcare subsidies.
Democrats enacted the ‘budget consensus’ rule to pass the bill; Thus, a simple majority was sufficient. However, this decision also limited the titles that could be included in the bill.
If enacted, the bill, formerly known as the “Inflation Reduction Act”; It will provide $369 billion to reduce greenhouse gas emissions and invest in renewable energy.
Democrats said the bill would also make healthcare cheaper for millions of U.S. citizens. Thanks to the allocated budget, it is stated that the state’s Medicare health insurance will negotiate the prices of prescription drugs and Medicare owners will be given a 2,000-dollar spending quota.