This bill passed by the U.S. lawmakers contains handouts to the fossil fuel industry as well as tax incentives and subsidies for green energy.
The Senate passed the reconciliation bill along party lines last weekend, and Friday's final vote in the House was 220 to 207.
The Progressive Caucus in the House of Representatives has voted to support key Democratic priorities.
The Democratic majority in the House of Representatives has sent a sweeping bill to the President's desk that tackles climate action, tax fairness, and lower drug costs.
The bill is expected to be signed into law by President Joe Biden.
The Union of Concerned Scientists president said that the IRA is a game changer and reason for hope.
Republican lawmakers have largely refused to support critical climate policy, even though the vast majority of people in the United States want clean energy solutions.
despite vocal concerns from climate advocates, every member of the Congressional Progressive Caucus voted for the bill.
Rep. Jamaal Bowman (D-N.Y.) said that the passage of the bill is a start, but more work needs to be done to address the cost of living crisis.
Bernie Bowman speaks on behalf of the Build Back Better campaign, which aims to improve the lives of people through various social programs.
The IRA is a bill that would invest the largest amount of federal money ever into climate action.
Jayapal celebrated a massive investment bill that includes housing and child care funding.
Nancy Pelosi believes that the IRA is working to reduce the power of corporate interests in Congress.
The private equity industry was able to remove tax provisions targeting the carried interest loophole.
The Republican healthcare bill still contains a provision that will impose a $2,000 annual cap on beneficiaries' prescription drug spending.
Despite regressive late-stage changes, the corporate lobbying groups mobilized aggressively against the IRA.
Multibillion-dollar corporate special interests claim the sky will fall if they finally pay their fair share in taxes, but their own filings show record profits.
The reality is that many wealthy companies pay very little in taxes, while charging seniors and families high rates.
Wenonah Hauter, executive director of Food and Water Watch, said that the Inflation Reduction Act takes important steps to promote clean energy but fails to rein in toxic fossil fuel extraction.
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