October 3, 2022

Lakeview Gazette

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Joe Biden presented his new social spending plan for $ 1.75 trillion after tough negotiations.

US President Joe Biden during his speech (REUTERS / Jonathan Ernst)

President of the United States, Democrats have achieved the “milestone” framework for a $ 1.75 trillion social spending plan, Joe Biden said Thursday., He said he hopes the deal will be approved by lawmakers.

“I know we have a historic economic plan.”Biden said in a speech to the nation after discussing the package with his divided party leaders about the cost and details of the initiative.

“It is a project that will create millions of jobs, grow the economy, invest in our nation and our people, turn the climate crisis into an opportunity and take us on a path not only to competition. But to win the economic competition for the 21st centuryBiden said.

Biden failed in his original goal of gaining votes in Congress, where Democrats have the narrowest majority. Roma Meet him Pope Francisco And leaders G20, Then the UN Climate Summit in Glasgow.

On the contrary, His dramatic last-minute speech would make a very good deal of rejection of the DemocratsTheir top advisers believe.

Projects, first about Infrastructure And about the second Social activities And Environment, Representing “historic investments”, although the amount has been significantly reduced compared to the original ambitions, the president said.

Overall, US $ 555 billion has been allocated to combat climate change, Which represents the largest investment in the history of that front. However, Reform to reduce the price of prescribed drugs was withdrawn And Provide maternity leave, Among other social benefits.

“This framework makes the most important investment in dealing with the climate crisis, beyond any other developed country in the world.”Pitan added on the day of the frantic operation aimed at gaining support for $ 1.75 trillion project.

In history
The president said his plan was to take action against the “most important” climate crisis in history. (REUTERS / Jonathan Ernst)

Chief of Staff, Ronald Klein, The total amount of the plan adjusted for inflation is fixed The glorious reconstruction of the 1930s is more than double the “new treaty”.

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Taxes on the rich to fund the project

When, Democrats read new additional tax on the rich – 5% of income above $ 10 million and 3% of income above $ 25 million To help finance it.

“I am an employer, but I ask you to pay only your fair share”Biden said during his speech. “So far they have paid almost zero”.

Earlier, the President spoke on Twitter: “The structure of the project Built Back Better (Built Back Better) will put America on track to achieve our climate goals, Creating millions of high-paying jobs And growing our economy from the bottom up and from the center. It is paid in full by asking companies and the rich to reward work, not wealth”.

The Billionaire Tax Bill sought to win the votes of the senator, the centrist Democrat Kirsten Cinema Arizona, which expressed concern about the growing shortage, but the senator Joe Mancin West Virginia said it was an unjust attack on the rich.

The Democrats cannot give any of the 50 votes in the Senate to approve its budget plans, keeping in mind that no Republican wants to support its plans..

If the ruling party reaches half of the 100 seats, the tiebreaker will be broken by the vice president. Kamala Harris.

Controversy among Democrats over draft domestic policy halts approval of a package $ 1 trillion for roads, Broadband and other infrastructure projects The Senate approved it with the votes of both parties. Democratic lawmakers in the progressive sector want to read the big domestic policy bill well before voting on the infrastructure plan.

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(With information from AFP and AP)

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