US Senate passes bill that would be country’s single-largest investment in fighting climate change

US Senate passes bill that would be country’s single-largest investment in fighting climate change

The US Senate has passed a bill that looks set to become the country’s single-largest investment in fighting climate change. The legislation approved August 7, 2022, would inject at least US$430 billion into tackling climate change as well as lowering prescription medication prices and raising some corporate taxes, and is seen as a major victory for President Joe Biden and his Democratic Party. About US$370 billion would go towards climate and energy programmes meant to help the US cut its greenhouse gas emissions to 40 per cent below 2005 levels by 2030 and would provide tax credits to drive  uptake of electric vehicles as well as prod power utilities towards renewable energy sources such as wind and solar. All Republicans in the evenly-split Senate voted against the bill that scraped through with Democratic Vice-President Kamala Harris casting a tie-breaking vote to pass the measure 51 to 50. The measure next goes back to the House of Representatives for a vote expected August 12 that could forward it to the White House for Biden’s signature.

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US Senate passes major US$430 billion bill https://sc.mp/402j

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