Joe Biden signed the Inflation Reduction Law: Who would benefit?

Joe Biden Inflation Reduction Law
  • The new law includes an investment of 369,000 million dollars in climate and energy policies, something key for the industry that involves renewable energies.
  • It will also provide $64 billion to extend a policy under the Affordable Care Act to reduce health insurance costs and a 15% corporate tax targeted at companies earning more than $1 billion a year.
  • It is expected that thanks to this law, the United States will collect more than 737,000 million dollars during the next decade.
  • “In this historic moment, Democrats have sided with the American people and every Republican in Congress has sided with a special interest on this vote,” Joe Biden said.

The President of the United States, Joe Biden, has just signed into law the Inflation Reduction Act, after months of debates about the measures included in the new law.

With this law, the American people won and the special interests lost,” Biden stressed before signing.

Among the most important points to highlight, the new law includes an investment of 369,000 million in climate and energy policies, 64,000 million to reduce health insurance costs and a 15% corporate tax targeted at companies that earn more than 1,000 million per year. year.

It is clear that the Biden administration prioritizes a future with investment in renewable energy. The measure will also bring big changes to the automotive industry, as it will seek to encourage automakers through incentives to speed up the production of so-called clean vehicles.

On the other hand, Wall Street analysts have highlighted that the increase in corporate taxes that Biden has just signed will not affect the majority of American companies.

The total spending package will be $437 billion and the government expects to collect $737 billion in revenue over the next decade.

As The Market Times has been publishing, many analysts are recommending investors start looking more closely at those actions that are linked to renewable energies.

Let’s be clear. In this historic moment, Democrats sided with the American people and every Republican in Congress sided with a special interest on this vote. Everyone,” Biden finished.