US Senate passes 'boldest clean energy package in American history' to tackle climate change

  • 📰 SBSNews
  • ⏱ Reading Time:
  • 64 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 89%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

The US Senate on Sunday passed a sweeping $622 billion bill intended to fight climate change, lower drug prices and raise some corporate taxes.

Senate Majority Leader Chuck Schumer said the legislation contains "the boldest clean energy package in American history" to fight climate change while reducing consumer costs for energy and some medicines.

"The Senate is making history," an elated Senate Majority Leader Chuck Schumer said, after pumping his fists in the air as Democrats cheered and their staff members responded to the vote with a standing ovation. Democrats have drawn harsh attacks from Republicans over the legislation's $622 billion in new spending and roughly $1.07 trillion in new revenue.

Because the measure pays for itself and reduces the federal deficit over time, Democrats contend that it will help bring down inflation, an economic liability that has also weighed on their hopes of retaining legislative control in the run-up to the 2024 presidential election. Senate Majority Leader Chuck Schumer arrives for a news conference on the passage of the Inflation Reduction Act at the US Capitol on Sunday, 7 August, 2022 in Washington, DC.After several hours of debate, the Senate began a rapid-fire "vote-a-rama" on Democratic and Republican amendments on Saturday evening that stretched into Sunday afternoon.

Independent Senator Bernie Sanders, who caucuses with Democrats, offered a number of amendments to expand Medicare, create a civilian conservation corps and reduce child poverty, only to be defeated by lawmakers from both parties.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

This will break America's backbone. Spineless fkn government. Civil war shit

yet more government spending What could possibly go wrong inflation

Until the next idealogicial POTUS comes along and undoes everything. 'Democracy' goes back and forth but never gets to anywhere.

Turn on the printer, we need some more cash...

...and people wonder why inflation is going up.

But we can’t extend cutting the fuel tax for a few more months.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Live: Huge climate investment passes US Senate, new ceasefire in Gaza, and more Commonwealth Games gold. Catch up with The LoopHere's your quick catch-up for this morning's news. More money needed to counter the Red Peril! US inflation is going to be insane next year.
Source: abcnews - 🏆 5. / 83 Read more »