September 24, 2022

Taylor Daily Press

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US Senate approves Biden's climate investment program

US Senate approves Biden’s climate investment program

After 18 months of negotiations, the US Senate passed Joe Biden’s major climate and health plan by a narrow majority on Sunday. In total, the program is worth more than $400 billion.

Republicans voted unanimously against the new bill, but in the end all Democrats and Vice President Kamala Harris voted for the proposal, obtaining the required majority of 51 votes. But Democratic Senator Joe Manchin opposed the plan. Two weeks ago, Manchin agreed to a slightly watered-down plan.

The $430 billion investment plan now goes to the House of Representatives, after which it will be signed by Joe Biden himself.

‘Historical’

The plan includes the largest investment ever in the American climate. For example, $370 billion is set aside to reduce greenhouse gas emissions by 40 percent by 2030. With this reform, every American would receive up to $7,500 in tax credits for purchasing an electric car. Rooftop solar panel installation is covered at 30 percent. Reform should also make forests more resilient to severe fires. It also helps the most polluting industries to help them transition their energy.

Joe Biden previously described the plan as “historic.” It should help “address today’s most pressing economic challenges, strengthen our economy in the decades to come, and enable the United States to be the world leader in renewable energy,” he said.

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