The plan, which represents the largest investment ever adopted in the United States in the fight against climate change, provides in particular financial incentives intended to move the American economy towards renewable energies, but also limits the price of certain drugs and creates a minimum tax rate for large corporations.
A country can be transformed. That’s what’s happening todaywelcomed Joe Biden from the White House in a speech with electoral overtones delivered before signing this reform, called the Inflation Reduction Act.
” It’s about the future. It’s about bringing progress and prosperity to American families. It’s about showing America and the American people that democracy still works in the United States. »
Joe Biden was originally advocating for an even bigger investment plan, but the very fact that he can enact this reform represents a near political resurrection for Democrats ahead of November’s midterm elections, traditionally lost by the ruling camp.
The result of difficult negotiations with the right wing of the Democratic Party, the envelope includes 370 billion US dollars to reduce greenhouse gas emissions by 40% by 2030.
The Republican Party called
scam tax credits of up to US$7,500 for buying an electric car, but environmental group Sierra Club has welcomed the measure
” Future generations will remember that day as the day the tide turned against the fossil fuel industries sector, in favor of a healthier, cleaner and fairer future for everyone, across the country. »
The second part of this major investment plan intends to partially 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 price of certain drugs directly with pharmaceutical companies and, thus, obtain more competitive prices.
US$258 billion in revenue
To finance these investments, the reform provides for the adoption of a minimum tax rate of 15% for all companies whose profits exceed one billion US dollars. This new tax aims to prevent certain large companies from using tax loopholes which have allowed them to pay far less than the theoretical rate.
It is estimated that this measure could generate more than $258 billion in US federal revenue over the next 10 years.
Wounded by last year’s chaotic withdrawal from Afghanistan, successive waves of COVID-19 and inflation at its highest in 40 years, the Biden administration has had a difficult year.
Moreover, its efforts have often been hampered by a very narrow majority, both in the House of Representatives and in the Senate.
Polls predict Republicans will win a solid majority in the House of Representatives in November, or even win the Senate, which could reduce President Biden to a sidekick until his term ends in 2024.
Joe Biden sticks his head out of the water
But while Republicans are mired in the scandal of Donald Trump’s recklessness over classified top-secret documents moved to his personal residence in Mar-a-Lago, where the FBI had to go get them this week, Joe Biden has achieved success in recent weeks.
At the end of June, the 79-year-old Democratic president signed into law a law regulating guns, the most important in nearly 30 years. And in early August, he released US$52 billion in grants to restart US semiconductor production, as well as signed legislation to improve care for smoke-exposed veterans. toxic.
I know there are those today who have a dark and desperate view of our country. it’s not my casehe said on Tuesday.
The climate and health reform, which all Republicans voted against, shows that
the Americans won and the pressure groups losthe added.
: we can protect the powerful or we can have the courage to build a future that offers possibilities for all. This is the America I believe in.”,”text”:”Here is the choice before us: we can protect the powerful or we can have the courage to build a future that offers opportunity for all. This is the America I believe in.”}}”>This is the choice before us: we can protect the powerful or we can have the courage to build a future that offers opportunities for all. This is the America I believe in.