Inflation Reduction Act Passes: Senate Approves $430 Billion Climate And Healthcare Bill

Senate Democrats voted Sunday to pass the landmark Inflation Reduction Act, approving the landmark $430 billion climate, tax and healthcare bill after months of negotiations.

All 50 Senate Democrats voted for the bill and all 50 Republicans voted against it, with the vice president casting the tiebreaking vote.

The House is expected to come back from a summer recess on Friday.

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More than $300 billion would be invested in alternative energy and climate programs by the federal government if the bill passes the House and is signed by the president. A new 15% minimum tax on corporations with an income of $1 billion is included in the bill.