Biden Signs A Historic $700bn Climate, Tax And Health Bill To Law

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 package invests $375bn to fight climate change - the most significant federal investment in history in the issue. An analysis by scientists with the Climate Action Tracker says the bill will reduce future global warming by "not a lot, but not insignificantly either". It is projected to lower US emissions by up to 44% by 2030, compared with the current US trajectory, which would lower emissions by up to 35%.”

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. 

Marina is passionate about sustainability and works to help ensure our planet stays as our home for a long time. She takes part in environmental conservation by recycling and not buying single-use plastic. When not writing, she can be found with her nose stuck in a book or trying out new baking recipes.

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