- 370 billion for the climate

This is the largest investment ever seen in the United States in the fight against climate change.

Rather than penalties for polluters, the bill provides a series of financial incentives intended to shift the US economy toward non-fossil energy sources.

A series of tax credits for producers and consumers of wind, solar and nuclear energy have been provided.

#photo1

Under this reform, an American will receive up to 7,500 dollars in tax credits for the purchase of an electric car.

The installation of solar panels on its roof will be covered at 30%.

Some 60 billion dollars are also planned for the construction of wind turbines, solar panels and electric vehicles in the United States.

The same sum is allocated to a series of programs to assist the most modest households in their energy transition, in particular by renovating their homes.

#photo2

Massive investments to strengthen the resilience of forests to the fires that are ravaging the country and to protect coastal areas from hurricanes are also included in this reform.

This project should allow the United States to reduce its CO2 emissions by 40% by 2030 compared to 2005.

- 64 billion for health

The second part of this major investment plan intends to partially correct the huge inequalities in access to care in the United States, in particular by lowering the price of drugs.

#photo3

Medicare, a public health insurance system for people over 65 and those with the lowest incomes, will for the first time be able to negotiate the prices of certain drugs directly with pharmaceutical companies, and thus obtain more competitive rates.

The plan will also force pharmaceutical companies to offer consumer discounts for certain drugs whose prices are rising faster than inflation.

#photo4

The bill also plans to extend until 2025 the protections of the "Affordable Care Act", the emblematic health insurance better known as "Obamacare", Barack Obama's flagship law.

- Companies taxed at 15%

In parallel with these massive investments, the "Inflation Reduction Act", as it is called, intends to reduce the public deficit by adopting a minimum tax rate of 15% for all companies whose profits exceed one billion euros. dollars.

This new tax aims to prevent certain large companies from using the tax loopholes which have allowed them to pay far less than the theoretical rate.

© 2022 AFP