- Bayern hit nine, Real Madrid and Liverpool win as new Champions League kicks off
- Author John Grisham joins bid to save Texas death row inmate
- Venezuela arrests fourth American over alleged 'plot' against Maduro
- 'Happy' Mbappe strikes on Madrid Champions League debut win over Stuttgart
- Man Utd hit Barnsley for seven in League Cup rout
- Dolphins quarterback Tagovailoa facing concussion layoff
- Stylish Liverpool strut past Milan in confident Champions league opener
- Kane scores four as Bayern put nine past Zagreb in the Champions League
- Mbappe strikes on Madrid Champions League debut win over Stuttgart
- More than 3,600 food packaging chemicals found in human bodies
- Harris calls Trump as assassination scare sparks tensions
- Dow edges down from record as some eye a smaller Fed rate cut
- Sommer vows Inter will 'defend with all we have' to stop Haaland
- Report links meatpacking companies to 'war on nature' in Brazil
- Bolivian ex-leader Morales, backers set out on weeklong protest march
- Smith grateful to McCullum for launching his England career
- Arizona to ask court to rule on voting rights
- Villa make perfect start on Champions League return after 41-year absence
- Israeli supply chain infiltration likely behind Hezbollah pager blasts: analysts
- Rodgers backs Celtic to be 'really competitive' in Champions League
- Spacewalk an 'emotional experience' for private astronauts
- Storm Boris toll rises to 22 in central Europe
- Nine dead, 2,800 wounded as Lebanon's Hezbollah hit by pager blasts
- Boeing, union resume talks as strike empties Seattle plants
- Over 3,600 food packaging chemicals found in human bodies
- Australia's Zampa accepts Ashes chances remote as 100th ODI looms
- UN General Assembly debates call for end to Israeli occupation
- Marseille complete signing of French international Rabiot
- Easterby to fill in as Ireland coach while Farrell is with the Lions
- Hezbollah in Lebanon hit by wave of deadly pager blasts
- Postecoglou taken aback by criticism of his second season success claim
- US, European stocks rise on retail sales, rate cut expectations
- Fendi sees Roaring 20s at Milan Fashion Week in challenging times
- Ronaldo's Al Nassr part ways with coach Castro
- Scottish government backs Glasgow to stage troubled 2026 Commonwealth Games
- Storm Boris toll rises to 21 in central Europe
- Instagram, under pressure, tightens protection for teens
- Inflation slows again in Canada to 2%
- US, European stocks rise on eve of Fed rate decision
- EU bans Algerian spread toasted on social media
- Sean 'Diddy' Combs charged with racketeering, sex trafficking
- Trump returns to campaign trail after assassination scare
- Activist urges repatriation of Native Americans dead in Paris 'human zoo'
- US retail sales see slight rise, beating expectations
- US Fed begins two-day meeting set to end with rate cut
- Exploding Hezbollah pagers wound hundreds across Lebanon
- Runners-up Yokohama thrashed 7-3 in AFC Champions League goal fest
- Sean 'Diddy' Combs to plead not guilty to racketeering, sex trafficking
- Jihadist group claims rare attack on Mali capital
- 'I am a rapist,' Frenchman tells trial over mass rape of wife
What's in Biden's big climate and health bill?
Hundreds of billions of dollars for clean energy projects, cheaper prescription drugs and new corporate taxes are a few of the key items in US President Joe Biden's massive investment plan, which the House of Representatives is expected to pass Friday, after Senate approval.
Here's a closer look at the signature elements of the plan, which could offer the Democratic leader a big political win heading into November's crucial midterm elections.
- $370 billion for clean energy, climate -
If the legislation is passed, it will mark the biggest investment in US history in the fight against climate change.
Rather than attempting to punish the biggest polluters in corporate America, the bill put forward by Biden's party instead proposes a series of financial incentives aimed at steering the world's biggest economy away from fossil fuels.
Tax credits would be given to producers and consumers of wind, solar and nuclear power.
If passed, the legislation would allot up to $7,500 in tax credits to every American who buys an electric vehicle. Anyone installing solar panels on their roof would see 30 percent of the cost subsidized.
Around $60 billion would be allocated for clean energy manufacturing, from wind turbines to the processing of minerals needed for electric car batteries.
The same amount would go towards programs to help drive investment in underprivileged communities, notably through grants for home renovation to improve energy efficiency and access to less polluting modes of transportation.
Huge investments would go into making forests less susceptible to wildfires and protect coastal areas from erosion caused by devastating hurricanes.
The bill aims to help the United States reduce its carbon emissions by 40 percent by 2030, as compared with 2005 levels.
- $64 billion for health care -
The second major aspect of the legislation is to help reduce the huge disparities in access to health care across the United States, notably by reining in skyrocketing prescription drug prices.
If the draft eventually becomes law, Medicare -- the nation's health insurance plan for those aged 65 and older, or with modest incomes -- could be permitted to negotiate prices of certain medications directly with Big Pharma for the first time, likely yielding far better deals.
The plan would require pharmaceutical companies to offer rebates on certain drugs if the prices rise faster than soaring US inflation.
It also would extend benefits under Barack Obama's signature Affordable Care Act -- known colloquially as Obamacare -- until 2025.
- Minimum corporate tax of 15% -
Alongside these huge investments, the so-called "Inflation Reduction Act" would seek to pare down the federal deficit through the adoption of a minimum corporate tax of 15 percent for all companies with profits exceeding one billion dollars.
The new tax seeks to prevent certain huge firms from using tax havens to pay far less than what they theoretically owe.
According to estimates, the measure could generate more than $258 billion in tax revenue for US government coffers over the next 10 years.
D.Sawyer--AMWN