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Thread: What's in Biden's landmark climate & healthcare bill?

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    Default What's in Biden's landmark climate & healthcare bill?

    What's in Biden's big climate and health bill?

    Hundreds of billions of dollars for clean energy projects, cheaper prescription drugs and new corporate taxes are a few of the key items in US President Joe Biden's massive investment plan, which the Senate will begin debating on Saturday.

    Here's a closer look at the signature elements of the plan, which could offer the Democratic leader a big political win heading into November's crucial midterm elections.

    --$370 billion for clean energy, climate--
    If the legislation is passed, it will mark the biggest investment in US history in the fight against climate change.

    Rather than attempting to punish the biggest polluters in corporate America, the bill put forward by Biden's party instead proposes a series of financial incentives aimed at steering the world's biggest economy away from fossil fuels.

    Tax credits would be given to producers and consumers of wind, solar and nuclear power.

    If passed, the legislation would allot up to $7,500 in tax credits to every American who buys an electric vehicle. Anyone installing solar panels on their roof would see 30 percent of the cost subsidized.

    Around $60 billion would be allocated for clean energy manufacturing, from wind turbines to the processing of minerals needed for electric car batteries.

    The same amount would go towards programs to help drive investment in underprivileged communities, notably through grants for home renovation to improve energy efficiency and access to less polluting modes of transportation.

    Huge investments would go into making forests less susceptible to wildfires and protect coastal areas from erosion caused by devastating hurricanes.

    The bill aims to help the United States reduce its carbon emissions by 40 percent by 2030, as compared with 2005 levels.

    --$64 billion for health care--
    The second major aspect of the legislation is to help reduce the huge disparities in access to health care across the United States, notably by reining in skyrocketing prescription drug prices.

    If the draft eventually becomes law, Medicare -- the nation's health insurance plan for those aged 65 and older, or with modest incomes -- could be permitted to negotiate prices of certain medications directly with Big Pharma for the first time, likely yielding far better deals.

    The plan would require pharmaceutical companies to offer rebates on certain drugs if the prices rise faster than soaring US inflation.

    It also would extend benefits under Barack Obama's signature Affordable Care Act -- known colloquially as Obamacare -- until 2025.

    --Minimum corporate tax of 15%--
    Alongside these huge investments, the so-called Inflation Reduction Act would seek to pare down the federal deficit through the adoption of a minimum corporate tax of 15 percent for all companies with profits exceeding one billion dollars.

    The new tax seeks to prevent certain huge firms from using tax havens to pay far less than what they theoretically owe.

    According to estimates, the measure could generate more than $258 billion in tax revenue for US government coffers over the next 10 years.

    U.S. Senator Chuck Grassley (R-IA) Friday afternoon posted an angry tweet complaining he will be missing his annual family reunion this weekend after Democratic Majority Leader Chuck Schumer scheduled a vote on the Inflation Reduction Act, major, historic legislation to combat inflation and climate change, lower Medicare prescription drug prices and the federal deficit, and increase the energy supply.


    https://www.rawstory.com/what-s-in-b...ll-2657818066/

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    besides higher taxes and inflation ?
    job losses and higher prices to pay business taxes (unless you are a Wall Street fat cat)
    more green pork
    more IRS auditors (80k+ they're coming after you small businesses)
    and, of course, more debt (after 3 years when they extend the spending part)

    if you dont like the current inflation, wait till you see it pumped up with this !
    "Those who vote decide nothing. Those who count the vote decide everything." Joseph Stalin
    The USA has lost WWIV to China with no other weapons but China Virus and some cash to buy democrats.

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    Quote Originally Posted by Celticguy View Post
    besides higher taxes and inflation ?
    job losses and higher prices to pay business taxes (unless you are a Wall Street fat cat)
    more green pork
    more IRS auditors (80k+ they're coming after you small businesses)
    and, of course, more debt (after 3 years when they extend the spending part)

    if you dont like the current inflation, wait till you see it pumped up with this !
    I have been hearing for the last 20 months that Biden has us on the cusp of a deep recession.

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    PORK. TONS OF IT. IT WILL EXACERBATE THE RECESSION , AND INFLATION.
    TRUMP WILL TAKE FORTY STATES...UNLESS THE SAME IDIOTS WHO BROUGHT US THE 2020 DUNCE-O-CRAT IOWA CLUSTERFUCK CONTINUE THEIR SEDITIOUS ACTIVITIES...THEN HE WILL WIN EVEN MORE ..UNLESS THE RED CHINESE AND DNC COLLUDE, USE A PANDEMIC, AND THEN THE DEMOCRATS VIOLATE ARTICLE II OF THE CONSTITUTION, TO FACILLITATE MILLIONS OF ILLEGAL, UNVETTED, MAIL IN BALLOTS IN THE DARK OF NIGHT..


    De Oppresso Liber

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    Hello Cypress,

    Quote Originally Posted by Cypress View Post
    What's in Biden's big climate and health bill?

    Hundreds of billions of dollars for clean energy projects, cheaper prescription drugs and new corporate taxes are a few of the key items in US President Joe Biden's massive investment plan, which the Senate will begin debating on Saturday.

    Here's a closer look at the signature elements of the plan, which could offer the Democratic leader a big political win heading into November's crucial midterm elections.

    --$370 billion for clean energy, climate--
    If the legislation is passed, it will mark the biggest investment in US history in the fight against climate change.

    Rather than attempting to punish the biggest polluters in corporate America, the bill put forward by Biden's party instead proposes a series of financial incentives aimed at steering the world's biggest economy away from fossil fuels.

    Tax credits would be given to producers and consumers of wind, solar and nuclear power.

    If passed, the legislation would allot up to $7,500 in tax credits to every American who buys an electric vehicle. Anyone installing solar panels on their roof would see 30 percent of the cost subsidized.

    Around $60 billion would be allocated for clean energy manufacturing, from wind turbines to the processing of minerals needed for electric car batteries.

    The same amount would go towards programs to help drive investment in underprivileged communities, notably through grants for home renovation to improve energy efficiency and access to less polluting modes of transportation.

    Huge investments would go into making forests less susceptible to wildfires and protect coastal areas from erosion caused by devastating hurricanes.

    The bill aims to help the United States reduce its carbon emissions by 40 percent by 2030, as compared with 2005 levels.

    --$64 billion for health care--
    The second major aspect of the legislation is to help reduce the huge disparities in access to health care across the United States, notably by reining in skyrocketing prescription drug prices.

    If the draft eventually becomes law, Medicare -- the nation's health insurance plan for those aged 65 and older, or with modest incomes -- could be permitted to negotiate prices of certain medications directly with Big Pharma for the first time, likely yielding far better deals.

    The plan would require pharmaceutical companies to offer rebates on certain drugs if the prices rise faster than soaring US inflation.

    It also would extend benefits under Barack Obama's signature Affordable Care Act -- known colloquially as Obamacare -- until 2025.

    --Minimum corporate tax of 15%--
    Alongside these huge investments, the so-called Inflation Reduction Act would seek to pare down the federal deficit through the adoption of a minimum corporate tax of 15 percent for all companies with profits exceeding one billion dollars.

    The new tax seeks to prevent certain huge firms from using tax havens to pay far less than what they theoretically owe.

    According to estimates, the measure could generate more than $258 billion in tax revenue for US government coffers over the next 10 years.

    U.S. Senator Chuck Grassley (R-IA) Friday afternoon posted an angry tweet complaining he will be missing his annual family reunion this weekend after Democratic Majority Leader Chuck Schumer scheduled a vote on the Inflation Reduction Act, major, historic legislation to combat inflation and climate change, lower Medicare prescription drug prices and the federal deficit, and increase the energy supply.


    https://www.rawstory.com/what-s-in-b...ll-2657818066/
    Bring it on!

    I want all of that.

    Talk about making America great. That's a big step in the right direction.

    Corporate taxes are too low. Those big corporations are ripping us off. Prices for everything we need have gone up like crazy, but the wages paid to the workers bringing us all that stuff have not. Big corporations are making windfall profits off this 'inflation.' Actually it's really only for needs, I've noticed. Extravagances are often the same price they were before 'inflation.' And the changes in the price of gas do not reflect the changes in the price of a barrel of oil.

    Big corporation profits are skyrocketing right now. The stock market is up. The rich are making a killing off 'inflation.'

    We need to tax the living daylights out of them and use it to build America back better.
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    Quote Originally Posted by Celticguy View Post
    besides higher taxes and inflation ?
    job losses and higher prices to pay business taxes (unless you are a Wall Street fat cat)
    more green pork
    more IRS auditors (80k+ they're coming after you small businesses)
    and, of course, more debt (after 3 years when they extend the spending part)

    if you dont like the current inflation, wait till you see it pumped up with this !
    Dude


    Your predictions always fail


    I’ve seen you here for years


    You NEVER turn out to be correct


    Why should ANYONE listen to you?

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    Climate change deniers are going to be viewed with complete loathing by future generations.

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    Quote Originally Posted by BartenderElite View Post
    Climate change deniers are going to be viewed with complete loathing by future generations.
    They will make the same cynical pivot erstwhile Iraq war supporters made: they will just eventually claim they never supported global warming denialism .

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    Quote Originally Posted by evince View Post
    Dude


    Your predictions always fail


    I’ve seen you here for years


    You NEVER turn out to be correct


    Why should ANYONE listen to you?
    dial back the crack, its you who are never right
    "Those who vote decide nothing. Those who count the vote decide everything." Joseph Stalin
    The USA has lost WWIV to China with no other weapons but China Virus and some cash to buy democrats.

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    Quote Originally Posted by Cypress View Post
    I have been hearing for the last 20 months that Biden has us on the cusp of a deep recession.
    They tried to "redefine" recession so folks like you can pretend that we aren't in one. Do you believe that the definition is different for Brandon than it was for Bush? If you do, then you too may be a Democrat.
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    - -- The Buddha

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    Around $60 billion would be allocated for clean energy manufacturing, from wind turbines to the processing of minerals needed for electric car batteries.
    ALL of that is supplied by Chinese manufacturers/mineral processing
    ( we have some mines but cant process rare earths)

    It's a tax and spend boondoggle that does nothing to grow GDP or wealth for the USA.
    Instead it's a transfer of wealth to China..

    Dems are economic illiterates: tax and spending reduces inflation?? it's ludicrous

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    Quote Originally Posted by Damocles View Post
    They tried to "redefine" recession so folks like you can pretend that we aren't in one. Do you believe that the definition is different for Brandon than it was for Bush? If you do, then you too may be a Democrat.
    We need more of these "recessions" where unemployment is 3.5 percent, and there are more job openings than people to fill them

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