The House approves, with the quality vote of Vice President Harris, the tax, climate and health law defended by the US president
The US Senate yesterday approved by 51 votes in favor and 50 against the Democratic bill that introduces reforms in the fiscal, climate and drug fields after a year of internal debate among the Democrats themselves despite the support of the White House to the initiative. “I am sure that the Inflation Reduction Act will be one of the most decisive of the 21st century,” said the Democratic spokesman, Chuck Summer, before the vote, which was finally decided by the quality vote of the president of the Senate , Vice President Kamala Harris, after a marathon night of debates.
Democrats say it is the largest initiative in terms of investment to combat climate change that has ever been made in the United States. It aims to reduce greenhouse gas emissions by 40% compared to 2005 by the end of this decade. In addition, it aims to prevent large companies from abusing tax exemptions to pay less and will allow Medicare – a part of US public health – to negotiate the price of medicines for the first time. The reform will also mean the first substantial cuts in the public budget deficit in more than ten years.
President Joe Biden was quick to show his satisfaction by assuring that “Senate Democrats have sided with American families.” “I ran for president with the promise that the government would do things again for working families and that is what this law is,” he argued.
Business rate
This legislative reform, which must now receive the approval of the House of Representatives, “creates jobs to manufacture solar panels, wind turbines and electric vehicles in the United States, with American workers” and “lowers energy costs for families in hundreds of dollars a year,” the president stressed. The financing is obtained with “a minimum corporate tax so that our richest companies start paying their share”, although “it does not raise taxes on those who earn less than $400,000 a year”.
Republicans, however, have remained united in their opposition to the proposal, believing it will fail to reduce inflation and will raise taxes, which could plunge the country into recession.
The initiative was presented in its day by Biden as a milestone similar to the New Deal of Franklin D. Roosevelt, but has finally been lowered to achieve its approval with the support of the Democrats closest to the Republican caucus, Joe Manchin and Kyrsten Sinema.
The 6 trillion dollars that he initially planned has become about 437,000 million, although everything indicates that it will be an important touchstone for Biden’s first term and one of the weapons that the Democrats will use in the mid-term elections. next November.
#Senate #crucial #boost #Bidens #economic #plan