Zürcher Nachrichten - US Senate adopts sweeping climate and health plan, in major victory for Biden

EUR -
AED 4.256969
AFN 73.026624
ALL 95.949668
AMD 436.29849
ANG 2.074968
AOA 1062.937298
ARS 1612.956254
AUD 1.648622
AWG 2.089361
AZN 1.97515
BAM 1.955793
BBD 2.330592
BDT 141.989509
BGN 1.981339
BHD 0.437098
BIF 3425.188147
BMD 1.159146
BND 1.479895
BOB 7.995972
BRL 6.159011
BSD 1.157196
BTN 108.180626
BWP 15.778945
BYN 3.510788
BYR 22719.261378
BZD 2.327292
CAD 1.591102
CDF 2637.057544
CHF 0.913917
CLF 0.027244
CLP 1075.745893
CNY 7.982348
CNH 8.005172
COP 4253.385281
CRC 540.49813
CUC 1.159146
CUP 30.717369
CVE 110.264618
CZK 24.515015
DJF 206.059287
DKK 7.48519
DOP 68.689762
DZD 153.294785
EGP 59.995792
ERN 17.38719
ETB 182.369469
FJD 2.566871
FKP 0.868888
GBP 0.86899
GEL 3.147128
GGP 0.868888
GHS 12.613956
GIP 0.868888
GMD 85.201694
GNF 10142.964899
GTQ 8.863969
GYD 242.099162
HKD 9.082199
HNL 30.628894
HRK 7.547552
HTG 151.809475
HUF 393.739159
IDR 19654.711213
ILS 3.60393
IMP 0.868888
INR 108.971952
IQD 1515.894754
IRR 1525001.44174
ISK 144.047519
JEP 0.868888
JMD 181.799371
JOD 0.82188
JPY 184.582853
KES 149.909481
KGS 101.364887
KHR 4623.983998
KMF 494.955743
KPW 1043.265709
KRW 1744.874492
KWD 0.35536
KYD 0.964297
KZT 556.328075
LAK 24848.914008
LBP 103633.441366
LKR 360.978751
LRD 211.759267
LSL 19.520632
LTL 3.422657
LVL 0.701156
LYD 7.407974
MAD 10.813063
MDL 20.15193
MGA 4824.983303
MKD 61.639787
MMK 2432.834089
MNT 4136.040892
MOP 9.340468
MRU 46.32084
MUR 53.912319
MVR 17.920835
MWK 2006.593056
MXN 20.746631
MYR 4.565921
MZN 74.073751
NAD 19.520632
NGN 1572.092184
NIO 42.579853
NOK 11.093021
NPR 173.089401
NZD 1.985179
OMR 0.445696
PAB 1.157196
PEN 4.000686
PGK 4.994983
PHP 69.723065
PKR 323.078682
PLN 4.282755
PYG 7557.973845
QAR 4.231485
RON 5.101986
RSD 117.449594
RUB 96.003268
RWF 1683.694173
SAR 4.352195
SBD 9.33305
SCR 15.877645
SDG 696.647132
SEK 10.831104
SGD 1.486609
SHP 0.86966
SLE 28.486057
SLL 24306.724357
SOS 661.297712
SRD 43.45349
STD 23991.981659
STN 24.499915
SVC 10.124965
SYP 128.330532
SZL 19.526932
THB 38.14522
TJS 11.114462
TMT 4.068602
TND 3.417588
TOP 2.790945
TRY 51.295112
TTD 7.850973
TWD 37.135217
TZS 3008.589588
UAH 50.693025
UGX 4373.984863
USD 1.159146
UYU 46.629839
UZS 14107.951178
VES 527.05282
VND 30499.449254
VUV 137.764445
WST 3.161931
XAF 655.95473
XAG 0.017051
XAU 0.000257
XCD 3.13265
XCG 2.085493
XDR 0.815797
XOF 655.95473
XPF 119.331742
YER 276.576393
ZAR 19.85325
ZMK 10433.709028
ZMW 22.593922
ZWL 373.244535
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSD

    -0.2420

    22.658

    -1.07%

  • BCE

    0.0600

    25.79

    +0.23%

  • NGG

    -3.5400

    81.99

    -4.32%

  • BTI

    -1.3500

    57.37

    -2.35%

  • CMSC

    -0.2000

    22.65

    -0.88%

  • AZN

    -5.3300

    183.6

    -2.9%

  • GSK

    -0.5300

    51.84

    -1.02%

  • RIO

    -2.5000

    83.15

    -3.01%

  • RELX

    -0.4600

    33.36

    -1.38%

  • RYCEF

    -1.2600

    15.34

    -8.21%

  • BCC

    -1.5600

    68.3

    -2.28%

  • BP

    -1.0800

    44.78

    -2.41%

  • VOD

    -0.0900

    14.33

    -0.63%

  • JRI

    -0.3900

    11.77

    -3.31%

US Senate adopts sweeping climate and health plan, in major victory for Biden
US Senate adopts sweeping climate and health plan, in major victory for Biden / Photo: Stefani Reynolds - AFP

US Senate adopts sweeping climate and health plan, in major victory for Biden

After 18 months of arduous negotiations and a marathon night of debate, the US Senate on Sunday passed Joe Biden’s ambitious climate, tax and health care plan -- a significant victory for the president ahead of crucial midterm elections.

Text size:

Voting as a unified bloc and with the tie-breaking vote cast by Vice President Kamala Harris, Democrats approved the $430 billion spending plan, which will go to the House of Representatives next week, where it is expected to pass before being signed into law by Biden.

The plan, crafted in sensitive talks with members on the right wing of his Democratic Party, would include the biggest US investment ever on climate -- $370 billion aimed at effecting a 40 percent drop in greenhouse gas emissions by 2030.

That would give Biden a clear victory on one of his top agenda items and go some way toward restoring US leadership in meeting the global climate challenge.

- Electric cars -

The bill would provide ordinary Americans with a tax credit of up to $7,500 when purchasing an electric car, plus a 30 percent discount when they install solar panels on their roofs.

It would also provide millions to help protect and conserve forests -- which have been increasingly ravaged in recent years by wildfires during record heat waves that scientists say are linked to global warming.

Billions of dollars in tax credits would also go to some of the country's worst-polluting industries to help their transition to greener methods -- a measure bitterly opposed by some liberal Democrats who have, however, accepted this as a least-bad alternative after months of frustration.

Biden, who came to office with promises of sweeping reforms, has seen his hopes dashed, then revived, then dashed again.

Democrats' narrow edge in the Senate has given a virtual veto to moderates like Joe Manchin of West Virginia, who earlier had used that power to block Biden's much more expansive Build Back Better plan.

But in late July, Senate Democratic leader Chuck Schumer managed to wangle a compromise with the West Virginian, whose state's economy depends heavily on coal mining.

And on Saturday, senators finally opened their debate on the text.

- 'Vote-a-rama' -

Late in the day, senators kicked off a marathon procedure known as a "vote-a-rama," in which members can propose dozens of amendments and demand a vote on each one.

That allowed both Republicans, who view Biden's plan as too costly, and liberal Democrats, who say it does not reach far enough, to make their opposition clear.

Influential progressive Senator Bernie Sanders used that platform through the evening to propose several amendments aimed at strengthening social planks in the legislation, which were considerably weakened during the months of negotiation.

The bill would provide $64 billion for health care initiatives and ensure a lowering of some drug costs -- which can be 10 times more expensive in the United States than in some other rich countries.

But progressive Democrats long ago had to give up their ambitions for free preschool and community colleges and expanded healthcare for the elderly.

"Millions of seniors will continue to have rotten teeth and lack the dentures, hearing aids or eyeglasses that they deserve," Sanders said from the Senate floor. "This bill, as currently written, does nothing to address it."

But fellow Democrats, eager to pass the legislation ahead of November midterms when control of Congress is at stake, have rejected any change in the text.

To help offset the plan's massive spending, it would reduce the US deficit through a new 15-percent minimum tax on companies with profits of $1 billion or more -- a move targeting some that now pay far less.

That measure could generate more than $258 billion in tax receipts for the government over the 10 next years, by some estimates.

cjc/bbk/wd

P.E.Steiner--NZN