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Senate passes $700B climate package
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The US Senate has approved a sweeping $700bn (£577bn) economic package that includes major legislation on healthcare, tax and climate change. The bill seeks to lower the cost of some medicines, increase corporate taxes and reduce carbon emissions. The passing of the bill - a flagship part of President Joe Biden's agenda - is a boost ahead of mid-term elections. But it is a significantly scaled-back version of the $3.5tn package that was first proposed by his administration. This next part is something I don't quite get. They say households could receive tax credits to buy EVs or used cars (the dollar amounts are laughable at best); billions will be spent in an effort to speed up production; and $60B will be given to communities that have suffered fossil fuel pollution. The author of the bill says these things will cut carbon emissions by 40%. None of those things are guaranteed to happen so cutting emissions is speculation at best and I'm not sure how that $60B to communities will help cut emissions unless they are required to spend it on green energy. Will it happen by 2030 remains to be seen. I guess they say this will happen so it sounds good to the rabid eco warriors but there is no guarantee this $369B will do a damn thing other than put us further into debt. The bill also includes $369bn for climate action - the largest investment in the issue in US history. Some households could receive up to $7,500 in tax credits to buy an electric car, or $4,000 for a used car. Billions will also be spent in an effort to speed up the production of clean technology such as solar panels and wind turbines. There will also be $60bn given to communities that have suffered the most from fossil fuel pollution. The authors of the bill say it will cut the country's carbon emissions by 40% by 2030. If they insist on spending money on green energy they need to use that $369B to upgrade the power grid because wind and solar is not going to be enough to do what these people want it to do. If we don't have the infrastructure it's all going to fail. Why doesn't the WH and all government buildings for that matter have solar panels? I just watched 3 weeks of the Tour de France where buildings that are a thousand years old in small villages in the middle of nowhere have solar panels to power whatever business goes on there but government buildings don't. Why aren't motorcades all EVs? If the government wants us to do something maybe they should lead by example. Yeah, not gonna happen. We show less advertisements to registered users. Accounts are free; join today! |
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