“A country can be transformed. This is what is happening now”, declared the president of the United States (USA) before promulgating, this Tuesday (16), the health and climate investment plan, called the “Inflation Reduction Act”.
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Promulgation, it is worth remembering, is the act that declares the existence of the law and orders its execution. Only after promulgation does a law come into effect.
This is the North American government's largest investment in the fight against climate change.
The text provides financial incentives to shift the economy towards renewable energy, limits the price of some medicines and creates a minimum tax of 15% for large companies.
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“This is about the future. It’s about bringing progress and prosperity to American families,” Biden said. “This is about showing America and the American people that democracy still works.”
The result of arduous negotiations with the right wing of the Democratic Party, the law includes the largest investment ever made in the US for the climate: US$370 billion to reduce greenhouse gas emissions by 40% by 2030.
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(With information from AFP)
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