US President Joe Biden said on Thursday that a deal on a package of bills to fight inflation and the climate crisis is a “godsend” for families as Democrats gather votes for Senate approval.
“This proposal will be the most significant piece of legislation in history to combat the climate crisis,” the president said, noting that the package would also lower health care costs for the millions of Americans who buy their insurance under the Affordable Care Act, also known as “Obama Care”. ‘.
Biden said the bill, titled the “Inflation Reduction Act of 2022,” would not raise taxes on families making less than $400,000 a year, and said setting a minimum tax rate of 15% for businesses would finance costs and even will reduce the deficit.
“My request: put politics aside. Do it. We have to approve this,” Biden said.
Ahead of the president’s statements, Senate Democratic Majority Leader Chuck Schumer had already asked Democratic senators for support to pass a $739 billion (€728 billion) legislative package to be voted on next week after moderate Joe Manchin , which blocked the ambitious project “Construction of the Better Back Legislative Bill” in 2021, gave it the green light.
The bill could be a historic victory for the Democratic-controlled Congress just months before the midterm elections are expected to return Republicans control of the House of Representatives.
Schumer told Democratic senators they will now have the opportunity to achieve two “extremely important” priorities for the party.
Manchin’s change of heart surprised Washington after months of negotiations that seemed doomed to failure. Speaking to reporters via video link, the West Virginia senator said the deal was a win-win.
The package raises taxes for companies making more than $1 billion and taxpayers making more than $400,000, includes measures to reduce carbon emissions and invest in clean energy sources, and requires price negotiations. federal subsidies for health insurance.
To pass the bill, all Democratic senators must vote in favor of it, because the Democratic majority in the Senate is only one vote, that of Vice President Kamala Harris. 50 Republican senators oppose the package.
That means Arizona Senator Kristen Blue, also a moderate, will have to be persuaded to vote yes. Voting will take place next week.
However, it is a far less ambitious bill than the one Biden asked Democrats to pass in 2021 and cost $3.5 billion. The House of Representatives passed a reduced version of 2 billion, but Manchin also opposed it in the Senate.
Author: Lusa
Source: CM Jornal
