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

EUR -
AED 4.087691
AFN 77.216219
ALL 99.146863
AMD 431.530556
ANG 2.008679
AOA 1031.493152
ARS 1071.444832
AUD 1.636718
AWG 2.00463
AZN 1.833968
BAM 1.951391
BBD 2.250335
BDT 133.190246
BGN 1.959446
BHD 0.419383
BIF 3230.238279
BMD 1.11291
BND 1.439161
BOB 7.701667
BRL 6.030747
BSD 1.114592
BTN 93.214008
BWP 14.663221
BYN 3.647491
BYR 21813.042196
BZD 2.246534
CAD 1.51141
CDF 3194.052731
CHF 0.943726
CLF 0.037557
CLP 1036.308283
CNY 7.866943
CNH 7.873957
COP 4649.605752
CRC 577.330644
CUC 1.11291
CUP 29.492123
CVE 110.016412
CZK 25.100356
DJF 198.449303
DKK 7.459502
DOP 66.909416
DZD 147.515328
EGP 54.01173
ERN 16.693655
ETB 128.268622
FJD 2.449794
FKP 0.847547
GBP 0.839886
GEL 2.985379
GGP 0.847547
GHS 17.554492
GIP 0.847547
GMD 76.791162
GNF 9630.326265
GTQ 8.61561
GYD 233.107099
HKD 8.674791
HNL 27.647777
HRK 7.566689
HTG 146.879437
HUF 394.157231
IDR 16915.513413
ILS 4.200674
IMP 0.847547
INR 93.082762
IQD 1460.014134
IRR 46859.088964
ISK 152.513253
JEP 0.847547
JMD 175.104342
JOD 0.788716
JPY 159.072742
KES 143.776286
KGS 93.790539
KHR 4523.940499
KMF 492.46545
KPW 1001.618654
KRW 1481.155606
KWD 0.339471
KYD 0.928697
KZT 533.744026
LAK 24610.612066
LBP 99807.176845
LKR 339.266457
LRD 222.881353
LSL 19.418996
LTL 3.286135
LVL 0.673189
LYD 5.309004
MAD 10.808577
MDL 19.446874
MGA 5021.6758
MKD 61.47802
MMK 3614.689295
MNT 3781.669204
MOP 8.946281
MRU 44.118708
MUR 51.049094
MVR 17.083347
MWK 1932.41655
MXN 21.523736
MYR 4.68484
MZN 71.113011
NAD 19.418996
NGN 1825.529362
NIO 41.012723
NOK 11.696776
NPR 149.160304
NZD 1.785843
OMR 0.428437
PAB 1.114592
PEN 4.184283
PGK 4.425001
PHP 61.979083
PKR 309.981864
PLN 4.27323
PYG 8700.419088
QAR 4.063319
RON 4.974488
RSD 117.080389
RUB 103.309148
RWF 1500.840195
SAR 4.176335
SBD 9.260263
SCR 15.165156
SDG 669.441157
SEK 11.332482
SGD 1.439622
SHP 0.847547
SLE 25.426999
SLL 23337.167151
SOS 636.966462
SRD 33.223683
STD 23034.996587
SVC 9.751965
SYP 2796.220485
SZL 19.401981
THB 36.94413
TJS 11.846103
TMT 3.906315
TND 3.375772
TOP 2.615116
TRY 37.881682
TTD 7.575033
TWD 35.593074
TZS 3032.057276
UAH 46.18624
UGX 4138.685594
USD 1.11291
UYU 45.786543
UZS 14199.044041
VEF 4031576.086267
VES 40.879734
VND 27355.33557
VUV 132.126949
WST 3.113325
XAF 654.50164
XAG 0.036076
XAU 0.000431
XCD 3.007696
XDR 0.826041
XOF 654.47817
XPF 119.331742
YER 278.617301
ZAR 19.454062
ZMK 10017.526769
ZMW 29.005331
ZWL 358.356668
  • RBGPF

    3.5000

    60.5

    +5.79%

  • RYCEF

    0.3800

    6.93

    +5.48%

  • CMSC

    -0.0350

    25.02

    -0.14%

  • AZN

    0.6850

    79.265

    +0.86%

  • GSK

    -0.4400

    41.99

    -1.05%

  • NGG

    -1.2200

    68.83

    -1.77%

  • RIO

    2.3050

    65.215

    +3.53%

  • BTI

    -0.2550

    37.625

    -0.68%

  • SCS

    -0.9350

    13.175

    -7.1%

  • CMSD

    0.0250

    25.005

    +0.1%

  • BCC

    5.6500

    142.71

    +3.96%

  • RELX

    0.7100

    48.08

    +1.48%

  • BCE

    -0.1950

    35.415

    -0.55%

  • VOD

    -0.1650

    10.065

    -1.64%

  • JRI

    -0.0100

    13.43

    -0.07%

  • BP

    0.5950

    33.025

    +1.8%

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