The House, with the good vote of Vice President Harris, approves the tax, climate and health bill defended by the US president
The US Senate yesterday passed by 51 votes to 50 the Democratic bill introducing tax, climate and drug reforms after a year of internal debate among Democrats themselves, despite White House support for the initiative. “I am confident that the Inflation Reduction Act will be one of the most decisive of the 21st century,” Democratic spokesman Chuck Summer said before the vote, which was ultimately decided by the Senate President’s quality vote. Vice President President Kamala Harris, after a marathon evening of debates.
Democrats say it is the largest investment initiative ever taken in the United States to combat climate change. The goal is to reduce greenhouse gas emissions by 40% by the end of this decade compared to 2005. In addition, it wants to prevent large companies from abusing tax exemptions to pay less and Medicare – a part of American public health – for the negotiate the price of drugs first. The reform also marks the first substantial reduction in the government deficit in more than a decade.
President Joe Biden was quick to show his satisfaction by assuring that “Senate Democrats have sided with American families.” “I ran for president with a promise that the government would do things for working families again and that’s what this law is,” he argued.
Business rate
This bill, now subject to House approval, “creates solar, wind turbine, and electric vehicle manufacturing jobs in the United States with American workers” and “cuts household energy costs by hundreds of dollars a year.” the president emphasized. The financing is obtained with “a minimum corporate tax so that our richest companies start paying their share”, although “it does not increase taxes on those making less than $400,000 a year”.
Republicans, however, are united in opposing the proposal, believing it will not cut inflation and raise taxes, which could plunge the country into recession.
The initiative was presented by Biden at the time as a landmark similar to Franklin D. Roosevelt’s New Deal, but was ultimately lowered to gain approval with the support of the Democrats closest to the Republican caucus, Joe Manchin and Kyrsten Sinema.
The $6 trillion he initially planned has turned into roughly 437,000 million, although all indications are that it will be a key touchstone for Biden’s first term and one of the weapons Democrats will use in the November midterm elections. .
Source: La Verdad
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