Joe Biden Enacts His Billion Dollar Climate and Health Plan

At an event at the White House in Washington, President Joe Biden announced a new package of measures to tackle climate change, improve health care in the country and reduce the high inflation that hits the economy.

Biden took advantage of the space to criticize the Republicans, facing the mid-term elections for Congress to be held in November, where a third of the Senate and the entire House of Representatives will be renewed, as well as the governors and parliaments local.

“In this historic moment, the Democrats sided with the American people, the Republicans sided with their special interests, they all voted in Congress against this bill,” said Biden, who appeared wearing a mask and only he took it off to speak, after his wife tested positive for coronavirus.

A “green plan”

The new legislation has been considered the highest investment in the country’s history to fight climate change, 375,000 million dollars will be used to develop plans to deal with climatic conditions, which are more lethal every year.

According to calculations by the Democrats, it is expected to reduce pollutant emissions by 40% between now and 2030, compared to 2005 levels, and boost the country’s green energy industry.

By the agreed date, it is expected to have 950 million solar panels throughout the territory, 120,000 wind turbines and 2,300 battery plants. Frances Colón, Science and Technology advisor to the White House, assured that this is the first step for her country to stop being one of the biggest polluters in the world.

“It is the most ambitious law in terms of investment in the transition to a clean energy economy that faces the problem of climate change,” said the science diplomat.

He also assured that he hopes to reach the next convention on the climate crisis, which will be held during November in Egypt, saying: “We are implementing this plan, what are you going to do, and that paradigm shift is very interesting.”

Similarly, they hope to impact the domestic economy, with the purpose of reducing families’ energy costs by 500 dollars a year, giving different incentives to change heating systems and appliances for more efficient ones, as well as promoting the use of electric vehicles.

A health system that seeks to be more efficient

The law expects Medicare, the US public health system, to negotiate some prescription drug prices with drug companies, saving the federal government some $288 billion over the next 10 years.

The main objective is to reduce the costs of medications for the elderly, as well as improve the vaccination of this segment of the population, which currently does not have guaranteed free access.

This incentive is expected to benefit more than 13 million people, since it is estimated that Americans spend two to three times more on healthcare than citizens of other countries with similar incomes.

The 730-page project also has among its objectives to extend the subsidies provided during the Covid-19 pandemic, which expired this year, reducing insurance premiums for the next three years.

Where will the resources come from?

One of the most striking announcements is that the law will impose a 15% tax on companies with annual profits of more than a million dollars, in addition to reinforcing the tax collection agency to prevent tax evasion, which today leaves a tax gap of 160,000 million dollars, according to calculations of the Executive.

In 2020, 55 of the largest and richest corporations in the country did not pay federal income taxes and it is intended that with the entry into force of this law a fairer taxation will be achieved that avoids this type of situation, according to the promoters of the law.

Similarly, the rule seeks to reduce inflation, which in July was recorded at 8.5% per year.

Biden’s promise to “rebuild” America

During the campaign, the Democratic president promised the implementation of projects to combat climate change and improvements in the health system. Last Friday, the project was approved by a divided Congress.

This is one of Biden’s star projects and a national tour is scheduled for the next few weeks to explain the advantages of the law, in addition, an event is expected to be held on September 6 for the promulgation of the fiscal, health and environmental.

“It’s not just about today, it’s about tomorrow. It’s about bringing progress and prosperity to families, showing Americans that democracy still works in America, despite all the talk of its demise.” Biden noted.

03:15

With EFE and AP