The US Capitol Building in Washington DC. File photoWASHINGTON, Aug 13 The U.S. House of Representatives on Friday approved a package of initiatives aimed at reducing inflation in the country, involving the allocation of about $ 430 billion in funds, according to the results of the vote. Late last week, data The initiative was approved by the Senate, the upper house of the US Congress. The House of Representatives interrupted summer recess to vote on the package. US President Joe Biden said earlier that he would sign the document if both houses of Congress voted to support it. Now the document will be sent to him for signature. The bill, which the administration calls the “Inflation Reduction Act,” has more than 700 pages and involves the allocation of investments in the environment, the social environment and the reform of the US tax system. The tax reform included in the document, according to the authors, will not only cover additional spending, but also reduce the budget deficit by $300 billion. The innovations would force the country's largest corporations to pay «at least some federal income tax,» eliminate tax avoidance schemes popular with the wealthiest Americans, but would not increase the burden on anyone making less than $400,000 a year, the explanatory materials say. 
US hopes to reduce inflation by capping Russian oil prices
