Alexis Guilleux, edited by Laura Laplaud
10:17 a.m., August 08, 2022modified to
11:12 a.m., August 08, 2022
In the United States, the Senate voted on Sunday a central text of the Biden presidency: the law on the reduction of inflation. A $430 billion investment program to lower prices and fight the effects of climate change. A big win for the Democrats.
A victory for Joe Biden: the US Senate adopted his vast climate and health plan on Sunday. On the spot, the applause of the majority illustrated the relief of the ruling party, which had to overcome its own divisions to pass this law at 430 billion dollars for “a historic text”, according to the boss of the Democratic senators, Chuck Schumer “It’s been a long, hard and winding road, but we’re finally here. Our bill cuts inflation, creates millions of well-paying jobs and is the boldest climate text in US history. United.”
A sprawling project…
This sprawling bill will first make it possible to lower the price of drugs for the elderly, with the aim of reducing inequalities.
In terms of climate protection, the investment is massive: 370 billion dollars are planned for this component alone, in which there are tax credits, incentives for individuals and businesses to make the transition to energy green. With a goal for America to reduce greenhouse gas emissions by 40% by 2030.
… financed by a tax hike for the wealthy
Everything will be financed by a tax increase for the richest and by the establishment of a minimum tax of 15% for large companies. The President of the United States, Joe Biden, had to revise his ambitions downwards: “Compromises are necessary to do great things”, he reacted. He now hopes to see his popularity rise again, three months from midterm elections.