What's in This Massive Spending Package?

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Medicare will finally be allowed to negotiate on drug prices. Corporations that make at least a billion dollars a year are supposed to pay 21 % right now. The bill does not want to increase taxes on any one making 400 thousand dollars or less per year. It's unclear how for sure that is, but that is certainly one interpretation of what has taken place.

Probably not, but he did finally compromise on the Inflation Reduction Act (née Build Back Better), which could be the most significant climate spending bill in US history. Vox’s Li Zhou and Rebecca Leber explain.

This episode was produced by Victoria Chamberlin and Hady Mawajdeh, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Paul Mounsey, and hosted by Sean Rameswaram.

Transcript at vox.com/todayexplained

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