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The US Senate has passed president Joe Biden’s flagship economic package after a marathon overnight voting session that handed the president a major political victory just months before the midterm elections.
The climate, tax and healthcare bill, known as the Inflation Reduction Act, passed by 51 votes to 50, with voting split along party lines and vice-president Kamala Harris casting the deciding vote in an evenly divided Senate.
The Inflation Reduction Act includes some of the most significant climate legislation enacted in the US, with $369bn dedicated to climate and clean energy programmes. It also includes new measures allowing the government to negotiate lower prescription drug prices, a provision to apply a minimum 15 per cent tax on large…
