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Wednesday, March 29, 2023

Senate Passes Sweeping Climate and Healthcare Bill

The U.S. Senate has passed the high-profile bill intended to fight climate change as well as address pharmaceutical prices, inflation and corporation tax. Vice President Kamala Harris cast the deciding vote for the Inflation Reduction Act as it overcame widespread Republican opposition. The House of Representatives is expected to pass the Act quickly, which will then be signed into law.

Senate Majority Leader Chuck Schumer welcomed the result, saying: “To the tens of millions of young Americans who have spent years marching, rallying, demanding that Congress act on climate change: This bill is for you!”

The bill makes the largest investment ever in fighting climate change. Speaking on Sunday, President Joe Biden said it addresses the climate crisis and strengthens U.S. energy security, creating jobs manufacturing solar panels, wind turbines, and electric vehicles in America with American workers. He added it would reduce families’ energy costs by hundreds of dollars each year.

The Act does not however deliver on all of Biden’s early climate promises due to compromises made to attract enough Democratic votes. Nevertheless it is still a significant step forward for the U.S. on climate action.

Biden said the climate investment funding will come from “establishing a minimum corporate tax so that our richest corporations start to pay their fair share” and promised it would not raise taxes on those making under $400,000 a year, “not one cent.”

Read more at the White House

Kylie Bielby
Kylie Bielby has more than 20 years' experience in reporting and editing a wide range of security topics, covering geopolitical and policy analysis to international and country-specific trends and events. Before joining GTSC's Homeland Security Today staff, she was an editor and contributor for Jane's, and a columnist and managing editor for security and counter-terror publications.

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