Senate OK’s Biden anti-inflation act that boosts taxes on corporate income, stock buybacks

Aug. 07, 2022 6:32 PM ETBy: Jerry Kronenberg, SA News Editor302 Comments

The flag of the united states of america flying in front of the capitol building blurred in the background


The U.S. Senate narrowly passed President Joe Biden’s Inflation Reduction Act on Sunday, aiming to cut government deficits and consumer medical bills while boosting climate-change spending, increasing corporate income taxes and creating a new 1% levy on stock buybacks.

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