In a major win for US President Joe Biden, the US Senate passed a massive US$740 billion climate, health care and tax package yesterday. That’s billion with a ‘b’… The Inflation Reduction Act was the centrepiece of Biden’s election campaign to bring financial relief to Americans, including measures to combat climate change and lower healthcare costs. It will also target corporations with tax hikes on billion-dollar companies and crackdowns on tax cheats – expected to raise enough funds to cover the spending and raise an extra $300 billion over the next decade. The bill was initially slated to cost $3.5 trillion and stalled after a year of political infighting amongst Biden’s Democrats. But it passed the Senate 51-50 yesterday and is set to pass the House of Representatives later this week. Considering Biden’s low approval rates, soaring inflation, and the upcoming November midterm elections, it’s welcome news for those in power.