US lawmakers are poised to hand President Joe Biden a significant victory with an economic package that includes $369 billion in new spending for clean energy technologies and greenhouse gas reduction.

Dubbed the Inflation Reduction Act of 2022, the measure emerged after US Senate Majority Leader Chuck Schumer and West Virginia Senator Joe Manchin reached an agreement on terms of the bill, which salvages some elements of Biden’s more ambitious Build Back Better legislation.

The earlier bill passed the House of Representatives but died in the narrowly divided Senate when Manchin, chairman of the Senate Energy & Natural Resources Committee, broke with fellow Democrats to oppose the bill.