With their slim majority, Democrats in the House of Representatives pushed through the more than US$430 billion plan, following a similar vote in the Senate a few days ago.
The text, which should put the country on the right path to meet its greenhouse gas emission reduction targets, will be signed into law by Joe Biden next week, the president said in a tweet.
Today the American people won, Mr. Biden wrote. With this law,
families will see lower prices for drugs, health care and energy costs.
Welcomed by the majority of associations fighting against climate change, this reform includes 370 billion dollars devoted to the environment and 64 billion to health.
New minimum tax of 15%
Called the “Inflation Reduction Act”, this reform also intends to reduce the public deficit with a new minimum tax of 15% for all companies whose profits exceed one billion dollars.
Today is a day of celebration, Speaker of the House of Representatives Nancy Pelosi said just before the vote. This law will allow American families
to prosper and our planet to survive.
The Republican camp, for its part, accuses the text of generating unnecessary public expenditure and castigates the use of the American tax authorities to finance them. On his Truth Social social network, former President Donald Trump called on all Republicans to speak out against it.
Coming to power with huge reform projects, Joe Biden originally pleaded for an even larger investment plan.
But the elected Democrats have gradually had to revise their ambitions downwards in order to satisfy in particular Senator Joe Manchin, of West Virginia, a state known for its coal mines. His support was essential to pass the stage of the Senate.
The text remains despite everything the largest investment ever made in the United States for the climate. It should reduce greenhouse gas emissions by 40% by 2030.
The goal set by Joe Biden is a reduction of at least 50% by that date, but other measures, in particular regulatory ones, could partially fill the gap, according to experts.
source of hope
This law is a game-changer and a source of hopewelcomed Johanna Chao Kreilick, president of the “Union of Concerned Scientists”.
The measures taken go
encourage other countries to step up their commitmentswelcomed Dan Lashof, director of the World Resources Institute in the United States, on Friday.
By creating strong incentives to invest in solar and wind energy, [le texte] will virtually dry up the market for coal-fired electricity over the next decadehe had summarized this week.
Under this reform, an American will receive up to US$7,500 in tax credits for purchasing an electric car. The installation of solar panels on its roof will be covered at 30%.
Investments are also planned for the development of CO2 capture, the resilience of forests to fires and the renovation of housing for the most modest households.
Correction of the huge inequalities in access to care
Several billion dollars in tax credits will also be offered to the most polluting industries to help them in their energy transition, a measure strongly criticized by the left wing of the party, which despite everything had to line up behind this text.
The second part of this major investment plan intends in part to correct the huge inequalities in access to care in the United States, in particular by lowering the price of drugs.
Medicare, a public health insurance system intended among others for those over 65, will for the first time be able to negotiate the prices of certain drugs directly with pharmaceutical companies and thus obtain more competitive rates.
Seniors will also be assured of not having to pay more than US$2,000 per year for their medication from 2025.
This bill also plans to extend the protections of the “Affordable Care Act”, the emblematic health insurance better known as “Obamacare”, which contained measures intended to facilitate access to health insurance. through grants to help families pay for medical coverage.