Parliamentary Democrats spend $ 369 billion to combat climate change through a combination of subsidies, tax cuts, subsidies, and other measures aimed at reducing carbon emissions. I'm about to pass a bill to throw.
In addition to climate-related factors, the 2022 Inflation Reduction Act (IRA) allows Medicare, a government-sponsored health insurance program for the elderly, to negotiate specific drug prices with the pharmaceutical industry. It is now possible. , A move expected to reduce drug costs for all Americans. It also imposes a minimum tax on large corporations, raises taxes on the wealthiest Americans, and reduces a federal deficit of an estimated $ 300 billion over a decade.
In a statement released Thursday, President Joe Biden praised the bill and called on lawmakers to pass it quickly.
The bill "makes the largest investment in history in combating climate change and improving energy security, creating jobs here in the United States, and saving people's energy costs. We look forward to picking up this bill and passing it as soon as possible. ”
The main elements of the bill are individual Americans. A package of rebates, tax deductions, and grants to help families reduce their reliance on fossil fuels by subsidizing energy-efficient home renovation projects and purchasing electric vehicles.
The bill will allocate $ 60 billion to help establish clean energy production in the United States. This includes tax credits for spending $ 30 billion on domestic production of solar panels, wind turbines, batteries and other important clean energy components. There is also a $ 20 billion low-cost loan to help build electric vehicles.
Another element of the bill is a wide range of decarbonization efforts across the economy, including $ 30 billion in grants and loans to states and utilities to "accelerate the transition to clean energy." The purpose is to support.
The bill also puts tens of billions of dollars in "environmental justice" efforts aimed at reducing the impact of climate change on disadvantaged communities, and the resilience of farm and rural communities. We are allocating billions of dollars to improve our business.
Catalyst of Global Action
"I couldn't get any more excited about this big step forward," said David Kieve, President of EDF Action in the Environmental Defense Division. Mr. says. The fund told VOA. "In recent years, there has been a change in the attitude of Americans towards the understanding that future work lies in clean energy, and the only open question is whether they will come here in the United States."
In addition to creating these jobs in the United States, investing in the bill will put the United States "on the fastest track" to reach the administration's broader climate goals, 27}
said. He said he believed. He also said he hopes it will facilitate action in other countries.
"I've heard from other countries for quite some time that it's nice to have a president in the United States saying the right thing about climate change, but they really do it politically. Do you have the intention? "He said. "When this bill is passed and goes to President Biden's desk, we will answer that question decisively for the rest of the world, and the others will line up and follow our lead. There will only be. "
In order to push the bill to the finish line, Congressional Democrats will cut US carbon in the Biden administration Has advertised the expected impact on its commitments. Emissions. The $ 369 billion spending on climate is below the $ 555 billion government demanded last year, but many experts say the IRA will have a big impact.
As negotiations were underway last week, Senator Tom Carper, a Democrat from Delaware, who chairs the Senate for Environmental and Public Works, issued a statement stating: .. With the climate bills enacted so far, the law puts our country on track to reduce emissions by nearly 40% by the end of the decade, unleashing the potential of the US clean energy industry. Overall it will create high-paying jobs.
Legal reviewers and activists widely agree that the bill will withstand hype.
In a statement calling the law "transformative," Sierra Club President Ramon Cruz said the bill "creates communities that have long been disproportionately affected by climate change disasters. It will be the biggest investment in our community, including. " A healthy and safe future for all of us.
Energy Innovation: Policy and Technology, Nonpartisan Energy and Climate Policy think tanks analyze the law, "IRA is the most important federal climate, according to the Clean Energy Act and its provisions in US history." , Greenhouse gas emissions could be reduced by 37-41% from 2005 levels. ”
Not all analyzes of climate regulations were positive. The Heritage Foundation, a conservative think tank, argued that efforts to move the country towards more use of renewable energy violated American freedom.
"Energy affects every aspect of our lives and every sector of our economy. By deciding how we produce and consume energy, this bill is me. It will determine how we live our lives and limit the freedom we enjoy, "the report claimed. "It's an excuse for control, and little or no consideration is given to the high prices borne by Americans and the costs of trying to achieve the radical climate agenda of the left. The bad news is that this is all a non-profitable pain. "
This is also the case for West Virginia Senator Shelley Moore Capito, who relies heavily on fossil fuels for both work and energy. Criticized the bill.
"It will hurt our hard-working men and women in our industry, oil and gas business or coal business in West Virginia," she said. "I think it will also hinder our energy security in this country."
Former EPA staff support
Former Environmental Protection Agency A bipartisan group of leaders issued a statement on Friday in support of the climate element of the bill.
"This law meets President Biden's climate goal of reducing emissions by 50-52% by 2030, meeting the urgent moments demanded by the climate crisis, while at the same time making it a clean energy solution. Positioning the United States to make unprecedented investments. The family will save hundreds of dollars a year and create new high-paying union jobs across the country, "said the former manager.
This group included Carol Browner, who ran the EPA under President Barack Obama, and Christin Todd Whitman, who ran the EPA under President George W. Bush.
This bill had to make many concessions to appease centrist party members among Senate Democrats It is the product of months of negotiations. The Senate is currently split between Democrats and Republicans 50-50, and Democratic Vice President Kamala Harris can vote for a tie, so it's imperative that all Democrats be involved. was. Republicans seem to be united against the bill.
Democrats are moving through a process called "budget adjustment" that keeps them unaffected by filibuster. This is a rule that allows a small number of senators to block the bill unless they get 60 votes. The body of 100 members. Under budgetary adjustments, even if Republicans unanimously oppose, Democratic 50 votes and Harris' tiebreaker are enough to pass inflation reduction legislation.
If the Senate passes the bill, this can happen within a few days and will be sent to the House of Representatives where it will be passed and sent to Biden for signature.