After less than 100 days of crucial elections and 18 months of negotiations and marathon night debates, this is a milestone victory. Joe Biden. On Sunday, the US Senate approved the president’s sweeping plan Climate And this Health. The so-called “De-Inflation Act” would allow administrators to combat rising prices at the same time.
Democrats approved a more than $430 billion investment plan with their votes alone, before it is signed into law by Joe Biden and goes to a final vote in the Democratic-majority House of Representatives next week. All Republican senators voted against the text, which they accused of creating unnecessary public spending.
$370 billion to reduce greenhouse gas emissions
As a result of tough compromises with the Democratic Party’s right wing, the envelope includes the largest investment ever made for climate in the United States, with $370 billion in cuts. Green house gas emissions 40% by 2030
With this reform, an American would receive up to $7,500 in tax credits for purchasing an electric car. Installing solar panels on its roof will be 30%. The envelope should also make it possible to strengthen forest resilience in the face of wildfires ravaging the American West, which are directly responsible for global warming.
Billions of dollars in tax breaks will be given to the most polluting industries to help them with their energy transition, a move strongly criticized by the party’s left. An ambitious deal after months of negotiations.
A senator plays sports
Joe Biden, who came to power with grandiose ambitions for reform, saw them buried, resurrected, and then buried again by Joe Manchin, a more moderate senator from his camp. Given the slim Democratic majority in the Senate, West Virginia’s elected representative has veto power over his plans.
In late July, Senate Democratic leader Chuck Schumer finally succeeded in coaxing a compromise from Joe Manchin. Its coal mines. On Saturday, senators finally began debating the text in hemicycle.
In the evening, elected officials entered a marathon process called “vote-a-rama,” during which they could propose dozens of amendments and demand a vote on each one. A chance to air their grievances to the Republican opposition, who see the Biden plan as too expensive, and the Democratic left, who want it too ambitious.
Major investments in health sector
An influential left-wing senator, Bernie Sanders Several amendments were proposed during the night to strengthen the social aspect of the text, which has been significantly reduced in recent months.
In the state, the text offers $64 billion in health investment and a gradual reduction in the cost of some drugs, which would be ten times more than in other rich countries. But progressives had to abandon their ambitions of free public kindergartens and universities and better care for the elderly.
“Millions of retirees will have rotten teeth and won’t get the dentures, hearing aids or glasses they deserve,” Bernie Sanders from Hemicycle criticized. “This bill does nothing to address this problem.” But the Democratic camp, eager to implement the plan ahead of crucial November legislative elections, has united and rejected any changes to the text.
A line component
Alongside these massive investments, the bill wants to reduce the public deficit with a new minimum tax of 15% for all companies making over a billion dollars in profits. It aims to prevent some large companies from exploiting tax loopholes that have allowed them to pay much less than the theoretical rate.
It is estimated that the move could generate more than $258 billion in US federal revenue over the next 10 years.
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