In contrast to the Republican faction’s stance, Democrats in the Senate this Sunday (7/8) are ready to approve bills to tackle climate change, cut health care costs and raise taxes on companies that have big profits.
Approval of President Joe Biden’s reduced version of the economic legislature’s plan has long stalled.
The bill calls for America’s biggest investment to tackle the impact of global warming with $370 billion to encourage clean energy use, encourage Americans to buy electric cars and reduce factory heating emissions by 40% by 2030.
For the first time, the bill authorizes the U.S. government to negotiate drug prices with pharmaceutical companies, potentially lowering the cost of medicines for the elderly and extending health insurance subsidies for millions, as well as imposing a 15% minimum tax on companies worth billions. dollars that now pay nothing.
The bill will also add more than 87,000 federal tax agencies to review individual and corporate tax returns to catch tax fraudsters and cut chronic budget debt, which now stands at $300 billion.
The move narrowly passed Saturday’s vote at 51-50 after Vice President Kamala Harris voted in favor of the 50-member Senate Democrats in favor of the bill, while the 50-member Republican caucus opposed it. . [em/jm]