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Activists are celebrating this bill and the fact that it will be passed because it includes nearly $370 billion for clean energy making it the largest climate investment in u.s. history. if it is signed in to law, this bill would reduce u.s. carbon emissions up to 40% by 2030. and so of course just always explainer of what will happen in a few hours, the house will meet and debate the legislation.alwa explainer of what will happen in a few hours, the house will meet and debate the legislation. at vote and we're expecting to pass and then it will go to president biden's desk for signature makin...

Melanie zanona has more. >> reporter: they have an hour of debate time left and then it will move to passage where it is expected to pass despite republicans uniting in opposition. that's because democrats have united around this bill. even though it's not everything they wanted, they ultimately decided to take what they can get, and what they got, victor, is pretty substantial. let me remind viewers at home what is in this bill. it includes an historic investment in the climate, nearly $370 billion worth of climate and energy provisions including some tax credits. it also would allow medicare...

That's what it is called in the senate. that marathon process began when the senate voted to advance the bill with vice president kamala harris breaking the tie. >> on this vote, the ayes are 50, the nays are 50, the senate being equally divided, the vice president votes in the affirmative. >> an act to provide for reconciliation -- >> the bill known as the inflation reduction act includes nearly $370 billion to fight climate change. it also allows medicare to negotiate some drug prices, that's something drug companies have been fighting for quite some time. it also caps medicare out of pocket...

Be well. we're at 9.1% inflation. you're increasing gas taxes. now you want to expand medicare. this is going to hurt the american people. stop the madness. vote no. >> so the bill known as the inflation reduction act includes nearly $370 billion to fight climate change. it also allows medicare to negotiate some drug price pryces, caps medicare out of pocket costs, $2,000, and extends affordable care act subsidies. also, it imposes a 15% minimum corporate tax on the largest u.s. companies. >> cnn chief congressional correspondent manu raju rejoins us, still looking fresh and annoyingly so. i w...

Of allowing medicare to negotiate prices to bring down the cost of prescription drugs, which will also for the first time institute a cap on the amount of money that our older neighbors pay under medicare at $2,000. some of those drugs are so expensive. and the drug companies have had power for way too long. they have been calling the shots. this is finally, we've reached the point where the people are going to call the shots and get to put some money back into their pockets for a change. >> as it pertains it the other marquee issue that this inflation reduction act would be addressing, we're ...