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U.S. House approves Inflation Reduction Act of 2022

The U.S. House of Representatives on Friday passed the Inflation Reduction Act of 2022, a sweeping $430-billion bill intended to fight climate change, lower drug prices and raise some corporate taxes. (Xinhua)

The U.S. House of Representatives on Friday passed the Inflation Reduction Act of 2022, a sweeping $430-billion bill intended to fight climate change, lower drug prices and raise some corporate taxes.

The Senate on August 7 passed the budget reconciliation bill by a 51-50 party line vote.

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