Biden signs Inflation Reduction Act into law, setting 15% minimum corporate tax rate

Wednesday, August 17, 2022 | Tag Cloud Tags: ,

(Worthy News) – After more than a year of debate over costs, taxes, tax credits and regulations, President Joe Biden finally signed his sweeping tax, health and climate bill into law — albeit a significantly reduced version of the $1.75 trillion Build Back Better plan he was pushing for last year.

The president signed the newly renamed Inflation Reduction Act into law flanked by Senate Majority Leader Chuck Schumer, D-N.Y.; Sen. Joe Manchin, D-W. Va.; and Reps. Jim Clyburn, D-S.C. and Kathy Castor, D-Fl.

“With this law, the American people won and the special interests lost,” Biden said in remarks before he signed the bill. [ Source” CNBC (Read More…) ]

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