News To Go: Headlines From September 3, 2024
Biden Signs Inflation Reduction Act into Law
Yesterday, President Biden signed the Inflation Reduction Act of 2024 into law. The act includes "landmark measures to reduce greenhouse gas emissions and promote climate resilience, address prescription drug costs, extend health coverage to millions, reduce the deficit, and make corporations pay their fair share of taxes." (Whitehouse.gov, 2024)
Provisions of the Inflation Reduction Act
- Provides tax incentives for clean energy production and use.
- Establishes a new Clean Energy and Sustainability Accelerator to invest in climate resilience, clean energy technology, and workforce development.
- Lowers prescription drug costs by allowing Medicare to negotiate drug prices.
- Extends subsidies for health insurance premiums for millions of Americans.
- Reduces the federal deficit by $300 billion over the next decade.
- Imposes a 15% minimum tax on corporations with profits over $1 billion.
UN General Assembly Condemns Russia's Annexation of Ukrainian Territory
Following a referendum widely seen as a sham, Russia formally annexed the Ukrainian regions of Donetsk, Luhansk, Zaporizhzhia, and Kherson on September 30. In response, the United Nations General Assembly overwhelmingly passed a resolution condemning the illegal annexation. The resolution was supported by 143 countries, with 5 countries voting against (Russia, Belarus, Syria, North Korea, and Nicaragua) and 35 abstaining.
Reactions to the UN Resolution
The United States welcomed the passage of the resolution, calling it a "resounding affirmation of international law." Ukraine's President Zelenskyy said the resolution "confirms that the vast majority of the world stands with Ukraine." Russia denounced the resolution as "illegal and illegitimate."
Hurricane Fiona Batters Puerto Rico
Hurricane Fiona made landfall in Puerto Rico on September 18, bringing heavy rain and winds that caused widespread flooding and power outages. The storm was the strongest to hit the island since Hurricane Maria in 2017.
Impact of Hurricane Fiona
- At least 13 people were killed in the storm.
- Over 1 million homes and businesses lost power.
- The storm caused an estimated $3 billion in damage.
Conclusion
These are just a few of the top news stories from September 3, 2024. For more in-depth coverage, please visit our website or follow us on social media.
Sources
- Whitehouse.gov. (2024, August 16). Statement by President Biden on the Inflation Reduction Act of 2024. www.whitehouse.gov/briefing-room/statements-releases/2024/08/16/statement-by-president-biden-on-the-inflation-reduction-act-of-2024/
- United Nations. (2024, September 30). UN General Assembly condemns Russia's illegal annexation of Ukrainian territory. www.un.org/press/en/2024/ga12449.doc.htm
- National Hurricane Center. (2024, September 20). Hurricane Fiona Impacts Puerto Rico. www.nhc.noaa.gov/archive/2024/fiona.shtml
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