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World Victory for Biden and the Democrats with the adoption of its Plan for the Climate and Health

08:10  13 august  2022
08:10  13 august  2022 Source:   20minutes.fr

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After long months of dead end, the Democrats found a compromise, with 370 billion dollars for the

Nancy Pelosi signe une vaste loi de dépenses pour le climat et la santé le 12 août 2022. © Graeme Sloan/ climate/ SIPA USA/SIPA Nancy PELOSI signs a vast law of expenditure for climate and health on August 12, 2022. United States - After long months of dead end, the Democrats found a compromise, with 370 billion dollars for The

climate A big boost for renewable energies, cheaper drugs and a corporate tax: here is what the great investment plan of Joe Biden, definitively adopted on Friday by the American Congress, forecasts. A victory for the tenant of the White House that Democrats needed before the legislative elections in November.

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,370 billion for the

climate is the largest investment never seen in the United States in the fight against climate change.

rather than sanctions against polluters, the bill provides for a series of financial incentives intended to develop the American economy towards non -fossil energy sources. A series of tax credits for producers and consumers of wind, solar and nuclear energy have been provisioned.

Under this reform, an American will receive up to 7,500 dollars in tax credits for the purchase of an electric car. The installation of solar panels on its roof will be covered at 30%.

Some $ 60 billion is also planned for the construction of wind turbines, solar panels and electric vehicles in the United States.

The same sum is allocated to a series of programs to assist the most modest households in their energy transition, in particular via the renovation of their accommodation.

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Massive investments to strengthen forest resilience in the face of fires that ravage the country and protect the coastal areas of hurricanes are also in this reform. This project should allow the United States to reduce its CO2 emissions by 40% by 2030 compared to 2005.

64 billion for health

The second part of this large investment plan intends to correctly correct the immense inequalities In access to care in the United States, in particular by lowering the price of medicines.

Medicare, a public health insurance system for over 65 and those with the most modest incomes, will for the first time be able to negotiate the prices of certain drugs with pharmaceutical laboratories directly, and thus obtain more competitive tariffs .

The plan will also oblige pharmaceutical groups to provide discounts to consumers for certain drugs whose price increases faster than inflation.

The bill also plans to extend up to 2025 the protections of the "affordable care act", the emblematic health insurance better known as "Obamacare", the flagship law of Barack Obama.

Companies taxed at 15%

in parallel with these massive investments, the "inflation reduction act", as it is baptized, intends to reduce the public deficit via the adoption of a minimum tax rate of 15% for all companies whose profits exceed one billion dollars.

This new tax aims to prevent certain large companies from using the tax niches which allowed them so far to pay much less than the theoretical rate.

According to estimates, this measure could generate more than $ 258 billion in revenue for the US federal state over the next 10 years.

Scientists say new climate law is likely to reduce warming .
WASHINGTON (AP) — Massive incentives for clean energy in the U.S. law signed Tuesday by President Joe Biden should reduce future global warming “not a lot, but not insignificantly either,” according to a climate scientist who led an independent analysis of the package. Even with nearly $375 billion in tax credits and other financial enticements for renewable energy in the law, the United States still isn’t doing its share to help the world stay within another few tenths of a degree of warming, a new analysis by Climate Action Tracker says. The group of scientists examines and rates each country’s climate goals and actions.

usr: 0
This is interesting!