News

U.S. spending bill to cut inflation, deficit over time - Moody's - Reuters

Reuters · last updated

WASHINGTON, Aug 8 (Reuters) — A sweeping bill passed by the U.S. Senate on Sunday and intended to fight climate change, lower drug prices and raise some corporate taxes, will bring down inflation over the medium to long term and cut the deficit, rating agencies Moody’s Investors service and Fitch Ratings told Reuters on Monday.

Related Knowledge Center: Climate legislation

State of Play

The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.

More informationabout Climate legislation