Senate Democrats passed the Inflation Reduction Act

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The Inflation Reduction Act of 2022 was passed by the Senate Democrats on Sunday.

image credits: yahoo news

image credits: Senator Joe Manchin twitter

After nearly a year of fighting, President Joe Biden's climate plan cleared a major hurdle.

Several climate change provisions are most likely to impact consumers.

image credits: yahoo news

Inflation Reduction Act provides subsidies up to $7500 for electric vans, trucks, and SUVs with a cost below $80,000 or cars below $55,000

image credits: yahoo news

People could also claim up to $4,000 to purchase a used EV.

The bill also includes EV subsidies. It provides $370 billion in investment to encourage the construction of renewable power sources.

The House has now voted to approve the Inflation Reduction Act. It will be returned from summer recess Friday.

President Biden's office was in session for most of 2021 and much of the first half of 2022.

Due to the opposition of Senator Joe Manchin from West Virginia, it looked certain they would not succeed.

The bill could reduce US greenhouse gas emissions by approximately 6.3 billion tonnes by 2032.

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