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    Joe Biden signed for November // The President of the United States approved the “climate law” and walked through the Republicans

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    U.S. President Joe Biden signed into law the 2022 Inflation Reduction Bill, which was approved earlier by Congress. This document is considered the largest “climate package” of measures in the history of the United States, within which $430 billion will be allocated to combat greenhouse gas emissions, as well as to reduce the prices of a number of medicines and counter high inflation. Passed less than three months before the congressional elections, the act is presented by the Democrats as a major victory, which should attract a lot of voters to their side. However, in practice, the signing of the law is unlikely to significantly affect the outcome of the current campaign.

    . Prominent Democrats were naturally invited to the ceremony: Senate Majority Leader Chuck Schumer, House Majority Organizer Jim Clyburn, and West Virginia Senator Joe Manchin, whose role in passing the act was almost a key one.

    The administration’s initial plans were much more ambitious – their implementation would require the allocation of more than $ 3 trillion. However, such appetites raised questions even within the Democratic Party, and the spending planned in the bill had to be reduced to $1.75 trillion. That document passed the House of Representatives at the end of last year, but was actually buried in the Senate.

    It was after negotiations with him and, as a result, a multiple reduction in the pledged amount that the updated and financially thinner act was adopted in both chambers, and in the Senate with an advantage of only one vote.

    It was possible to find a compromise with the intractable fellow party member just in time. Joe Biden’s ratings set anti-records, and for the Democrats, all forecasts promised (and continue to promise) a November defeat in the battle for the House of Representatives and a likely transfer of control over the Senate into the hands of the Republicans. As a result, the words about “decreasing inflation”, which, having accelerated at a record speed, became the main cause of voters’ discontent, cunningly screwed into the title of the document, partly did their job. Forecasts still favor the Republican Party in the November 8 elections, but at least they managed to stabilize the ratings of the head of the White House.

    This, of course, is not 57–63% at the start of the presidential term in January 2021, but not the July 33%.

    For the final compliancy of Joe Manchin, who named the bill was “balanced”, even received a pen from a high-ranking namesake as a gift, with which he signed a historic document. Confirms the “pre-election” act and the fact that his signing Joe Biden used to criticize the Republicans. “At this historic moment, Democrats have sided with the American people, and every Republican has sided with special interests. Every Republican in Congress voted against this bill,” emphasized the owner of the Oval Office.

    According to the Democrats, the document will reduce the federal budget deficit and more effectively counteract climate change. Citizens’ spending on health care will be reduced, and taxes for large corporations will be raised. All this should eventually lead to lower inflation. Republicans strongly disagree with this message. Their leader in the Senate, Mitch McConnell, is sure that the effect of the new package of measures will be exactly the opposite.

    “The Democrats robbed Americans last year, driving our economy to record inflation. This year, their decision aims to do so for the second time. The party law (that is, supported by a purely one party, in this case, the Democrats.— “b”), signed by Biden, means higher taxes, higher electricity bills and aggressive checks by the Internal Revenue Service,” Mr. McConnell quotes Reuters .

    Meanwhile, as the Washington edition notes The Hill, Americans will not immediately feel the full effect of the bill.

    For example, one of the most well-known clauses that allows the national health insurance program (Medicare) to coordinate the cost of individual drugs will not work until 2026, will be limited to ten drugs and can be expanded to 20 positions only by 2029.

    Measures to combat climate change are supposed to come into force immediately or early next year, but whether they will work is another question. For example, the bill provides credit assistance to Americans in the purchase of solar panels and electric vehicles, as well as special loans to companies investing in the production of clean energy. However, how widely the US population will be able to take advantage of this depends, among other things, on establishing supply chains for the necessary components, which may well be problems, notes The Hill. Thus, immediately after the signing by the president, $80 billion should have been placed at the disposal of the Tax Service to strengthen the work of monitoring revenues. In January 2023, a new minimum tax of 15 percent for corporations will come into force, many of which previously used loopholes in the legislation and de facto paid virtually no deductions to the federal budget.

    Anyway, most of the points turned out to be stretched out in time and will take effect at least after the midterm elections to Congress. Democrats, in response to such comments, suggest paying attention to the fact that some of the measures are nevertheless introduced immediately, and others will soon follow. Apparently, realizing that the majority of voters will not feel the immediate effect, the parliamentary organizer of the majority in the House of Representatives, Jim Clyburn, just in case, has already stated that now the main task is to keep the Democrats in power. “In November, it may happen that you choose those who refuse this bill … You don’t want it to be canceled in 2023, do you?” – either appealed to the voters, or unequivocally threatened one of the leaders of the Democratic Party.

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