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Tuesday, October 4, 2022

USA: Joe Biden wins with passage of his climate and health plan in Congress

The U.S. Congress finally passed Joe Biden’s massive climate and health investment plan on Friday, a significant political victory for the U.S. president, less than three months before a pivotal legislative election. With a narrow majority, House Democrats pushed through the more than $430 billion plan after a similar vote in the Senate a few days ago.

The text, which should put the country on the right track to meet greenhouse gas reduction targets, will be signed by Joe Biden next week, the president said in a tweet. “Today the American people have won“Written by Joe Biden. With this lawfamilies will see lower prices for medicines, medical care and energy costs.»

The reform, approved by most climate change associations, includes $370 billion for the environment and $64 billion for health care. Baptized”Inflation Reduction Act”, he intends to simultaneously reduce the government deficit with a new minimum tax of 15% for all companies whose profits exceed one billion dollars.

Today is the day of celebration“Said House Speaker Nancy Pelosi shortly before the vote. This law will allow American familiesprosper, and our planet to survive.The Republican camp, for its part, accuses the text of creating unnecessary government spending and denounces the use of US tax authorities to fund it. Former President Donald Trump called on his social network Truth Social all Republicans to speak out against this.

Biggest Climate Investments

Having come to power with massive reform projects, Joe Biden initially called for an even bigger investment plan. But elected Democrats have gradually had to revise their ambitions downward, in particular to satisfy Senator Joe Manchin of West Virginia, known for its coal mines. His support was needed to pass the Senate stage.

The text remains, against all odds, the largest investment ever made in the United States for climate. It should reduce greenhouse gas emissions by 40% by 2030. The goal set by Joe Biden is a reduction of at least 50% by this date, but other measures, in particular regulatory ones, can partially fill the gap, experts say. .

This law changes the rules of the game and gives hopewelcomed Joanna Chao Kreilik, President ofUnion of Caring Scientists“. The measures taken willencourage other countries to step up their commitments“, welcomed Friday Dan Laschof, director of the World Resources Institute in the USA.

By creating strong incentives for investment in solar and wind energy, (text) will practically deplete the coal-fired electricity market over the next decade.“, – he summed up this week. As part of this reform, an American will receive up to $ 7,500 in tax deductions for the purchase of an electric car. Installing solar panels on its roof will be covered by 30%.

There are also plans to invest in CO2 capture, forest fire resilience, and housing upgrades for the humblest households. Several billion dollars in tax breaks will also be offered to the most polluting industries to help them switch to energy, a measure heavily criticized by the party’s left wing, which should have backed the text no matter what.

Cheaper drugs

The second part of this major investment plan aims to address the huge disparity in access to health care in the United States, in part by lowering drug prices. Medicare, a public health insurance system designed specifically for people over 65, will for the first time be able to negotiate prices for certain drugs directly with pharmaceutical companies and thus receive more competitive prices.

Older people will also be guaranteed not to have to pay more than $2,000 a year for their medications starting in 2025. The bill also plans to expand protection against “Affordable Care Act”, symbolic health insurance, better known as “Obamacarewhich contained measures to facilitate access to health insurance through subsidies to help families pay for their health insurance.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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