US President, Joe Biden, signed a $700bn bill to fight climate change and healthcare costs while raising taxes for the rich.According to the BBC, this bill is a flagship of Biden’s agenda and could give a boost for the mid-term elections coming up in November. The mid-term election will decide if Democrats will stay in control of Congres for the next two years.
The bill gives tax incentives to companies that invest in renewable energy sources and rebates for Americans who opt for electric cars and energy-efficient home improvements.
A significant part of the bill refers to healthcare. The government can negotiate lower prices for prescription medicines under Medicare health insurance for people aged over 65. It’s expected that this will save hundreds of billions of dollars over the next ten years.
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