US President Joe Biden’s dream climate change legislation received a major boost this week from quarterly expected Democratic Senator Joe Manchin, who reversed his position to strongly back the bill to raise taxes on societies, fight climate change and reduce drug costs.
Climate control is part of legislation better known as the Build Back Better program – an ambitious plan to fundamentally rewrite US health, education, climate and tax laws.
Manchin, a Democrat from West Virginia, previously opposed the proposal, citing fears that more spending would worsen inflation. Passing the bill would be a major legislative victory for Biden. Reclaiming a key part of his national platform could also provide a much-needed electoral boost to his fellow Democrats, who are fighting to retain control of Congress as midterm elections loom on Nov. 8 this year, according to officials. American media.
“If enacted, this legislation will be historic,” the president said. No one has a clue why Manchin drastically reversed his position to support the new bill. It is something of a political anomaly, representing a conservative state that voted overwhelmingly for former President Donald Trump, Britain’s BBC radio and TV station says in a report.
In a joint statement Wednesday night with Senate Democratic Leader Chuck Schumer, Manchin provided few details about his change in position.
The bill would be much smaller than the $3.5 trillion version originally proposed by Democrats.
“By far, this new legislation will be the biggest pro-climate piece of legislation ever passed by Congress,” Schumer said, as quoted by the BBC.
Manchin and Schumer also argued the measure would pay off by raising $739 billion over the decade by raising the minimum tax on large corporations to 15%, strengthening Internal Revenue Service tax enforcement and by allowing the government to negotiate the prices of prescription drugs.
Biden needs the support of all 50 Democratic senators in the Senate, as well as the decisive vote of Vice President Kamala Harris, to push the bill through the Senate and send it to the House of Representatives – where Democrats hold a very strong majority. thin. If passed, the legislation will mark a major step forward for the president, enshrining a number of his key policy goals into law and offering to salvage a national economic agenda that has stalled in recent months due to failed government negotiations, the BBC reported.
The bill is still significantly lower than what the White House had hoped to achieve in its initial $1.9 trillion Build Back Better program – an ambitious plan to fundamentally rewrite US laws on health, education, climate and taxation. That earlier plan, which for months floundered in the Senate with an uncertain future, is now “dead,” Manchin said Wednesday.
Many elements of federal policy evolve over time. Taxes rise and fall, as does spending on poverty programs and the military. If a set of policies doesn’t pass one year, it could pass in a future year, and the long-term trajectory of the United States probably wouldn’t be much affected.
Meanwhile, The New York Times in its morning briefing said the world had already warmed to dangerous levels. Heat waves, wildfires, droughts and severe storms have become more common. The Arctic is melting and the seas are rising. If countries don’t act quickly to slow their greenhouse gas emissions – and, by extension, slow global warming – the damage could be catastrophic, scientists have warned.
The United States has a particularly important role in the fight against climate change. It has produced far more greenhouse gases throughout history than any other country and remains one of the top emitters today. In recent years, the United States has done far less to reduce emissions than Europe.
(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)