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The Senate Democratic Majority has just passed the Inflation Reduction Act

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Loudninja

Loudninja

Member
Oct 27, 2017
42,207

View: https://twitter.com/SenSchumer/status/1556358976555679746


View: https://twitter.com/POTUS/status/1556367894061223937

Breakdown of what the bill does

View: https://twitter.com/WhiteHouse/status/1556370973988978688


If signed into law, the bill, formally known as the Inflation Reduction Act, would allocate $369bn to reducing greenhouse gas emissions and investing in renewable energy sources. Experts have estimated the climate provisions of the bill will reduce America's planet-heating emissions by about 40% by 2030, compared with 2005 levels.
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Democrats have promised the bill will lower healthcare costs for millions of Americans by allowing Medicare to negotiate prescription drug prices and capping Medicare recipients' out-of-pocket prescription drug prices at $2,000 a year. Those who receive health insurance coverage through the Affordable Care Act marketplace are also expected to see lower premium costs.
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The legislation includes a number of tax provisions to cover the costs of these policies, bringing in $739bn for the government and resulting in an overall deficit reduction of roughly $300bn. The policy changes include a new corporate minimum tax, a 1% excise tax on stock buybacks and stricter enforcement by the Internal Revenue Service.
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www.theguardian.com

Senate passes $739bn healthcare and climate bill after months of wrangling

Inflation Reduction Act will reduce planet-heating emissions and lower prescription drug costs – and give Biden a crucial victory
www.theguardian.com www.theguardian.com
 
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Vincent Alexander

Vincent Alexander

Member
Oct 26, 2017
19,758
I really hope this thread can make it past the first page before people start shitting all over the bill. This is a good bill.
 
Three Seagrass

Three Seagrass

Banned
Dec 19, 2021
1,695
There's not thing quite like the feeling of seeing Congress in a great legislative session. Thank you to everyone who contributed to the passage of this bill, the largest investment in tackling climate change in the world.

I'm so proud.
 
less

less

Member
Oct 25, 2017
10,838
The House still has to vote on it but no one is doubting Pelosi's ability to get it done.

Absolutely thrilled to see this passed. <3
 
cameron

cameron

The Fallen
Oct 26, 2017
23,821
Maybe the general discussion should be moved over to this thread and have the previous discussion thread locked. I could do without reading that one particular Senator from AZ's name.
 
KtotheRoc

KtotheRoc

One Winged Slayer
Member
Oct 27, 2017
56,645
It's not a perfect bill, and it lost some really good things along the way, but job well done, Democrats.
 
BasilZero

BasilZero

Banned
Oct 25, 2017
36,343
Omni
Sorry if I seem to be out of place but is there a general break down of what and when will things take affect?
 
Fuhgeddit

Fuhgeddit

#TeamThierry
Member
Oct 27, 2017
8,711
What kind of amendments were made? Is there transparency somewhere on what is in the bill? Anywhere that shows a summary of money, etc?
 
Ambient

Ambient

Member
Dec 23, 2017
7,084
I thought I read people like Bernie Sanders saying this bill will do little to nothing in regards to inflation. What impact are we expecting from this?
 
Easy_G

Easy_G

Member
Dec 11, 2017
1,669
California
From the NYTimes summary of the bill:
Energy experts said the measure would help the United States to cut greenhouse gas emissions about 40 percent below 2005 levels by the end of this decade. That puts the Biden administration in striking distance of meeting its goal of cutting emissions roughly in half by 2030.
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This is so amazing.
 
Tamanon

Tamanon

Banned
Oct 25, 2017
19,729
Ambient said:
I thought I read people like Bernie Sanders saying this bill will do little to nothing in regards to inflation. What impact are we expecting from this?
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Honestly, nobody actually cared about what it would do to inflation. That's just the robe Manchin dressed it in to make it acceptable for him and Sinema. It's always been about ACA/Healthcare and massive clean energy investment.
 
bsigg

bsigg

Member
Oct 25, 2017
22,556
Wooo! Great to finally have it passed. Obviously it doesn't have everything everyone hoped for but a tremendous amount of progress in this bill.
 
ThiefofDreams

ThiefofDreams

Banned
Oct 27, 2017
1,481
User Banned (Permanent): Hostility, consistent history of the same
Ambient said:
I thought I read people like Bernie Sanders saying this bill will do little to nothing in regards to inflation. What impact are we expecting from this?
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Fuck off with this shit already, on the first page even! Educate yourself or gtfo.
 

UltimusXI

Member
Oct 27, 2017
994
Congratulations US folks! Every vote matters and every step towards battling climate change does as well. The world thanks you guys!

Now make sure to keep the House come midterms as well!
 
Thordinson

Thordinson

Member
Aug 1, 2018
18,024
Vincent Alexander said:
Completely agreed. I have a friend who was really looking for that one to help him out. His bill has gotten ridiculous.
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It's mind boggling that such an essential medication is so expensive.

Ambient said:
I thought I read people like Bernie Sanders saying this bill will do little to nothing in regards to inflation. What impact are we expecting from this?
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It doesn't reduce inflation all that much but it pretty much was never going to. It was just cover.
 
Empyrean Cocytus

Empyrean Cocytus

One Winged Slayer
Member
Oct 27, 2017
18,707
Upstate NY
It's a good start. But it doesn't bring down drug prices for seniors. And it doesn't eliminate many of the tax loopholes that allow the 1% to avoid paying taxes in the first place.
 
Ambient

Ambient

Member
Dec 23, 2017
7,084
Tamanon said:
Honestly, nobody actually cared about what it would do to inflation. That's just the robe Manchin dressed it in to make it acceptable for him and Sinema. It's always been about ACA/Healthcare and massive clean energy investment.
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Gotcha.
ThiefofDreams said:
Fuck off with this shit already, on the first page even! Educate yourself or gtfo.
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Sorry I'm not American so I haven't been super up to date on this bill.
 
Sean C.

Sean C.

Member
Oct 27, 2017
7,738
Charlottetown, Prince Edward Island
Dakkon

Dakkon

Member
Oct 27, 2017
4,191
Ambient said:
I thought I read people like Bernie Sanders saying this bill will do little to nothing in regards to inflation. What impact are we expecting from this?
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Manchin needed this robed up as an anti-Inflation bill so he wouldn't lose his popularity in the hard R West Virginia where he has a like an absurd 69% approval rating.

It's mostly a clean energy / climate change / health care bill, the biggest one that will ever pass at that, but if it was pushed as being mostly those things it'd be bad for Manchin because better health care and clean energy/climate change aren't winning talking points to Republican voters, generally.
 
kalindana

kalindana

Member
Oct 28, 2018
3,148
bangai-o said:
Can someone here describe the fight climate change part?
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More than $300 billion would be invested in energy and climate reform, the largest federal clean energy investment in U.S. history.

The bill has support from many environmental and climate activists but is short of the $555 billion that Democrats had originally called for.

This portion of the bill takes on transportation and electricity generation, and it includes $60 billion for growing renewable energy infrastructure in manufacturing like solar panels and wind turbines.

It also includes several tax credits for individuals on things like electric vehicles and making homes more energy efficient.

The bill would, according to Democrats, lower greenhouse gas emissions by 40%, based on 2005 levels, by the end of the decade, which is short of the 50% Biden had originally aimed for.

"It puts us within a close enough distance that further executive action, state and local government efforts and private sector leadership could plausibly get us across the finish line by 2030," said Jesse Jenkins from Princeton University, who leads the REPEAT Project analyzing the impact of government climate actions.

www.npr.org

Democrats passed a major climate, health and tax bill. Here's what's in it

On Friday, the House sent to President Biden's desk what Democrats call a historic piece of legislation, but it's still a much smaller version of what they — and Biden — originally called for.
www.npr.org www.npr.org
 
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