Zürcher Nachrichten - US Senate poised to pass Biden's cornerstone climate and health bill

EUR -
AED 4.097406
AFN 77.400559
ALL 99.383558
AMD 432.560822
ANG 2.013475
AOA 1036.906361
ARS 1073.42574
AUD 1.634959
AWG 2.009415
AZN 1.874953
BAM 1.956049
BBD 2.255708
BDT 133.508213
BGN 1.964124
BHD 0.420454
BIF 3237.949872
BMD 1.115567
BND 1.442597
BOB 7.720053
BRL 6.028677
BSD 1.117252
BTN 93.436539
BWP 14.698226
BYN 3.656199
BYR 21865.116772
BZD 2.251897
CAD 1.511052
CDF 3201.677982
CHF 0.945862
CLF 0.037653
CLP 1038.949977
CNY 7.882569
CNH 7.886262
COP 4661.720985
CRC 578.708913
CUC 1.115567
CUP 29.56253
CVE 110.279055
CZK 25.075761
DJF 198.923064
DKK 7.459061
DOP 67.069149
DZD 147.456409
EGP 54.1175
ERN 16.733508
ETB 128.57484
FJD 2.452407
FKP 0.84957
GBP 0.839392
GEL 2.992506
GGP 0.84957
GHS 17.5964
GIP 0.84957
GMD 76.973793
GNF 9653.316876
GTQ 8.636178
GYD 233.663599
HKD 8.694786
HNL 27.713781
HRK 7.584754
HTG 147.230085
HUF 394.395954
IDR 16921.146134
ILS 4.190249
IMP 0.84957
INR 93.324226
IQD 1463.499646
IRR 46970.956117
ISK 152.503695
JEP 0.84957
JMD 175.522371
JOD 0.790603
JPY 159.474235
KES 144.120258
KGS 94.014423
KHR 4534.740564
KMF 493.639946
KPW 1004.009832
KRW 1481.501095
KWD 0.340282
KYD 0.930914
KZT 535.01824
LAK 24669.365319
LBP 100045.447892
LKR 340.076392
LRD 223.413441
LSL 19.465355
LTL 3.29398
LVL 0.674795
LYD 5.321678
MAD 10.834381
MDL 19.4933
MGA 5033.664116
MKD 61.529329
MMK 3623.318692
MNT 3790.697235
MOP 8.967638
MRU 44.224033
MUR 51.171153
MVR 17.123835
MWK 1937.029835
MXN 21.384781
MYR 4.696637
MZN 71.290593
NAD 19.465355
NGN 1829.887108
NIO 41.110633
NOK 11.661944
NPR 149.516397
NZD 1.784261
OMR 0.429437
PAB 1.117252
PEN 4.194272
PGK 4.435565
PHP 62.04563
PKR 310.721888
PLN 4.265299
PYG 8721.189718
QAR 4.073019
RON 4.974358
RSD 117.06988
RUB 103.604552
RWF 1504.423172
SAR 4.186377
SBD 9.282371
SCR 15.069078
SDG 671.011434
SEK 11.317373
SGD 1.44148
SHP 0.84957
SLE 25.487701
SLL 23392.880292
SOS 638.4871
SRD 33.54789
STD 23089.988351
SVC 9.775246
SYP 2802.895941
SZL 19.4483
THB 36.936557
TJS 11.874383
TMT 3.915641
TND 3.383831
TOP 2.621362
TRY 37.957156
TTD 7.593117
TWD 35.657439
TZS 3039.296011
UAH 46.296501
UGX 4148.565935
USD 1.115567
UYU 45.89585
UZS 14232.941614
VEF 4041200.723372
VES 40.965693
VND 27420.64134
VUV 132.442377
WST 3.120758
XAF 656.064141
XAG 0.035763
XAU 0.000431
XCD 3.014876
XDR 0.828013
XOF 656.040614
XPF 119.331742
YER 279.282501
ZAR 19.435913
ZMK 10041.435126
ZMW 29.074575
ZWL 359.212178
  • RBGPF

    3.5000

    60.5

    +5.79%

  • CMSC

    -0.0450

    25.01

    -0.18%

  • BCC

    5.4350

    142.495

    +3.81%

  • BTI

    -0.2050

    37.675

    -0.54%

  • GSK

    -0.4340

    41.996

    -1.03%

  • SCS

    -1.0200

    13.09

    -7.79%

  • BP

    0.7280

    33.158

    +2.2%

  • RYCEF

    0.3800

    6.93

    +5.48%

  • NGG

    -1.3750

    68.675

    -2%

  • RIO

    2.4850

    65.395

    +3.8%

  • JRI

    -0.0500

    13.39

    -0.37%

  • VOD

    -0.1750

    10.055

    -1.74%

  • CMSD

    0.1000

    25.08

    +0.4%

  • BCE

    -0.1700

    35.44

    -0.48%

  • RELX

    0.6400

    48.01

    +1.33%

  • AZN

    0.5250

    79.105

    +0.66%

US Senate poised to pass Biden's cornerstone climate and health bill
US Senate poised to pass Biden's cornerstone climate and health bill / Photo: Stefani Reynolds - AFP

US Senate poised to pass Biden's cornerstone climate and health bill

After months of negotiations, the US Senate looks poised to pass Joe Biden's grand climate and health care plan, channeling billions toward ambitious clean energy goals in a hard-won victory for the president ahead of midterm elections.

Text size:

"I think it's going to pass," the Democratic president, who recently recovered from a second bout of Covid-19, told journalists Sunday morning in a brief appearance on the White House lawn.

The $430 billion plan, crafted in arduous 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.

Democrats hold a razor-thin majority in the Senate -- just enough to pass spending bills like this with no Republican support.

If the package is approved, likely within days, it will move on Friday to the House of Representatives, where the majority Democrats expect to pass it. It would then go to Biden's desk for his signature.

- 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 -- and expensive -- 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 has 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.

As it stands, 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 US 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 well ahead of November midterms when control of Congress is much 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.

R.Bernasconi--NZN