Joe Biden signed into law his sweeping climate and health investment plan

The “Inflation Reduction Act” includes an envelope of 370 billion dollars to fight against climate change, limits the prices of certain drugs, and provides for the adoption of a minimum tax rate for large companies.

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A historical law. The President of the United States signed into law his recently adopted investment plan of more than 430 billion dollars, covering both climate and health, on Tuesday 16 August.

“A country can be transformed. This is what is happening today”rejoiced Joe Biden in a speech before the signing of the text, baptized “Inflation Reduction Act” and definitively adopted by Congress on Friday August 12. “It’s about the future (…) to bring progress and prosperity to American families”again intoned the leader about the largest investment ever concluded in the United States against climate change, with an envelope of 370 billion dollars.

The law also limits the price of certain drugs, and provides for the adoption of a minimum tax rate of 15% on companies whose profits exceed one billion dollars.“It’s about showing America and the American people that democracy still works in the United States”, finally applauded Joe Biden. Less than three months before the mid-term legislative elections, this plan represents an important victory for the Democratic camp, obtained after difficult negotiations with the right wing of the party.

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