The House of Representatives on Friday passed the Inflation Reduction Act, sending the bill to President Joe Biden, who said he plans to sign it this week.
The bill contains tax, healthcare and climate provisions, including about $369 billion in spending over 10 years on energy and climate measures. In a measure expected to affect some utility companies, the legislation is partly funded by a 15% alternative minimum tax for corporations with a 3-year average adjusted book income above $1 billion.
