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US President, Joe Biden has signed a $740bn climate change, healthcare and tax bill into law.
In a signing ceremony at the White House on Tuesday, Biden heralded the Inflation Reduction Act for its record investment towards cutting carbon emissions.
According to reports, the bill includes nearly $370billion meant to encourage a shift away from fossil fuels.
It added that the estimated $740billion package is made up of $440billion in new spending and $300billion towards easing deficits.
