Senate Democrats have agreed on a deal they say would lower drug costs, reduce carbon emissions and chip away at the federal deficit.
RELATED: Federal Reserve raises interest rate 0.75% to help with rising inflation https://bit.ly/3z6U9j2
The measure is also projected to cut the deficit by approximately $300 billion over the next decade, in part by ramping up IRS enforcement and closing certain tax loopholes.
The senators project the proposal will raise $739 billion in revenue over 10 years, with nearly half coming from a 15% corporate minimum tax. The measure is meant to close a loophole that has allowed large companies from avoiding paying income tax.
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