USA-Inflation Reduction Act
Beijing, China - Aug 13, 2022 (CGTN - No access Chinese mainland)
1. Graphics of Inflation Reduction Act
FILE: Washington D.C., USA - Date Unknown (CCTV - No access Chinese mainland)
2. Various of White House
FILE: New York City, New York, USA - Date Unknown (CGTN - No access Chinese mainland)
3. Times Square
FILE: New York City, New York, USA - June 15, 2021 (CCTV - No access Chinese mainland)
4. Various of U.S. national flags, road traffic
FILE: USA - Exact Location and Date Unknown (CCTV - No access Chinese mainland)
5. U.S. dollar notes being counted by machine
FILE: Washington D.C., USA - June 2022 (CGTN - No access Chinese mainland)
6. Various of man withdrawing money from ATM
7. Pedestrians, traffic
FILE: Salt Lake City, Utah State, USA - July 14, 2022 (CCTV - No access Chinese mainland)
8. Various of products, price tags in supermarket, customers
FILE: Miami, Florida State, USA - May 2016 (CGTN - No access Chinese mainland)
9. Various of bottled drugs, capsules
FILE: Chicago, USA - May 2022 (CGTN - No access Chinese mainland)
10. People in Chinatown
11. Various of diners in restaurant
FILE: Los Angeles, California, USA - Oct 21, 2021 (CCTV - No access Chinese mainland)
12. Various of vehicles at gas station
13. Screen on fuel pump showing gas bill
14. Vehicles at gas station
U.S. House of Representatives on Friday passed the Democratic spending bill on tax policy, health care and climate change, a few days after the Senate approval.
The bill, dubbed the Inflation Reduction Act, is scaled down from the massive "Build Back Better" package President Joe Biden and many Democrats envisioned last year.
The bill cleared the lower chamber by a vote of 220 to 207 along party lines. On Sunday, the evenly-divided Senate approved the bill by a vote of 51 to 50 also along party lines, with Vice President Kamala Harris presiding to break the tie.
The bill now heads to Biden's desk for his signature.
Democrats had been eager to push through their domestic policy ambitions before the mid-term elections, but Republicans strongly opposed the bill, arguing that tax increases would impose burdens on U.S. businesses and workers and hurt the economy.
The bill includes a roughly 400-billion-dollar investment in fighting climate change, measures to make prescription drugs more affordable, and a 15-percent minimum tax on most corporations that make more than one billion dollars per year. The bill will bring in more than 300 billion dollars in new revenue, according to Democrats.
The new bill is much smaller than the 3.5-trillion-dollar "Build Back Better" social spending bill Democrats initially attempted to advance last year.
USA-Inflation Reduction Act
Dateline : Aug 12/13, 2022/File
Location : United States
Duration : 1'43
Beijing, China - Aug 13, 2022 (CGTN - No access Chinese mainland)
1. Graphics of Inflation Reduction Act
FILE: Washington D.C., USA - Date Unknown (CCTV - No access Chinese mainland)
2. Various of White House
FILE: New York City, New York, USA - Date Unknown (CGTN - No access Chinese mainland)
3. Times Square
FILE: New York City, New York, USA - June 15, 2021 (CCTV - No access Chinese mainland)
4. Various of U.S. national flags, road traffic
FILE: USA - Exact Location and Date Unknown (CCTV - No access Chinese mainland)
5. U.S. dollar notes being counted by machine
FILE: Washington D.C., USA - June 2022 (CGTN - No access Chinese mainland)
6. Various of man withdrawing money from ATM
7. Pedestrians, traffic
FILE: Salt Lake City, Utah State, USA - July 14, 2022 (CCTV - No access Chinese mainland)
8. Various of products, price tags in supermarket, customers
FILE: Miami, Florida State, USA - May 2016 (CGTN - No access Chinese mainland)
9. Various of bottled drugs, capsules
FILE: Chicago, USA - May 2022 (CGTN - No access Chinese mainland)
10. People in Chinatown
11. Various of diners in restaurant
FILE: Los Angeles, California, USA - Oct 21, 2021 (CCTV - No access Chinese mainland)
12. Various of vehicles at gas station
13. Screen on fuel pump showing gas bill
14. Vehicles at gas station
U.S. House of Representatives on Friday passed the Democratic spending bill on tax policy, health care and climate change, a few days after the Senate approval.
The bill, dubbed the Inflation Reduction Act, is scaled down from the massive "Build Back Better" package President Joe Biden and many Democrats envisioned last year.
The bill cleared the lower chamber by a vote of 220 to 207 along party lines. On Sunday, the evenly-divided Senate approved the bill by a vote of 51 to 50 also along party lines, with Vice President Kamala Harris presiding to break the tie.
The bill now heads to Biden's desk for his signature.
Democrats had been eager to push through their domestic policy ambitions before the mid-term elections, but Republicans strongly opposed the bill, arguing that tax increases would impose burdens on U.S. businesses and workers and hurt the economy.
The bill includes a roughly 400-billion-dollar investment in fighting climate change, measures to make prescription drugs more affordable, and a 15-percent minimum tax on most corporations that make more than one billion dollars per year. The bill will bring in more than 300 billion dollars in new revenue, according to Democrats.
The new bill is much smaller than the 3.5-trillion-dollar "Build Back Better" social spending bill Democrats initially attempted to advance last year.
ID : 8286311
Published : 2022-08-13 15:13
Last Modified : 2022-08-13 19:43:02
Source : China Central Television (CCTV),China Global Television Network (CGTN)
Restrictions : No access Chinese mainland
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