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Three months before the legislative elections in the United States, Joe Biden has achieved a resounding political victory with the approval, in a adjusted manner and after adjustments negotiated at the last moment, of the so-called Inflation Reduction Law.
Both the content of the law itself and the approval of the Senate allow the Democrats to retake the initiative in the face of growing Republican opposition with a view to important elections where a third of the Senate will be renewed —currently Democrats and Republicans tie— and the entire of the House of Representatives, now under Democratic control.
The approved legislation, pending passage through the House of Representatives, implies an investment of some 430,000 million dollars over the next 10 years and will generate additional income worth another 740,000.
In climate matters alone, it foresees an expenditure of 370,000 million dollars, especially in tax subsidies for families and companies that adopt clean energy technologies and improve energy efficiency, which can open a dispute with the EU for the electric car.
As for the extension of subsidies —one of the great ideological battles between progressives and conservatives in the US—, it will amount to 64,000 million.
Its objective is to facilitate access to health insurance.
The figures are overwhelming, although they would have been even more so if Biden's initial plan, estimated at 3, had been completed.
5 billion dollars and baptized with the slogan "Build Back Better" ("Rebuild better").
Despite the fact that important projects to expand the welfare state with free nurseries, maternity leave and sick care, among other measures, are left out, it is worth remembering and emphasizing that the oldest president in the United States has achieved in less than two years what that Obama and Clinton failed to achieve in eight.
The underlying philosophy of this plan is projected in the long term and comes fueled by the promotion of incentives against fidelity to restrictions.
Regardless of the political difficulties that he has encountered, Biden has embarked on a stimulating path that takes up the famous “push” that some relevant Obama advisers defended.
Despite the fact that important projects to expand the welfare state with free nurseries, maternity leave and sick care, among other measures, are left out, it is worth remembering and emphasizing that the oldest president in the United States has achieved in less than two years what that Obama and Clinton failed to achieve in eight.
The underlying philosophy of this plan is projected in the long term and comes fueled by the promotion of incentives against fidelity to restrictions.
Regardless of the political difficulties that he has encountered, Biden has embarked on a stimulating path that takes up the famous “push” that some relevant Obama advisers defended.
Despite the fact that important projects to expand the welfare state with free nurseries, maternity leave and sick care, among other measures, are left out, it is worth remembering and emphasizing that the oldest president in the United States has achieved in less than two years what that Obama and Clinton failed to achieve in eight.
The underlying philosophy of this plan is projected in the long term and comes fueled by the promotion of incentives against fidelity to restrictions.
Regardless of the political difficulties that he has encountered, Biden has embarked on a stimulating path that takes up the famous “push” that some relevant Obama advisers defended.
It is worth remembering and emphasizing that the oldest US president has achieved in less than two years what Obama and Clinton did not achieve in eight.
The underlying philosophy of this plan is projected in the long term and comes fueled by the promotion of incentives against fidelity to restrictions.
Regardless of the political difficulties that he has encountered, Biden has embarked on a stimulating path that takes up the famous “push” that some relevant Obama advisers defended.
It is worth remembering and emphasizing that the oldest US president has achieved in less than two years what Obama and Clinton did not achieve in eight.
The underlying philosophy of this plan is projected in the long term and comes fueled by the promotion of incentives against fidelity to restrictions.
Regardless of the political difficulties that he has encountered, Biden has embarked on a stimulating path that takes up the famous “push” that some relevant Obama advisers defended.
The great boost that the Democratic plan represents is that the expense will be covered mainly through the fight against fraud and tax evasion, for which the tax inspection service will also see its resources increased.
Another remarkable aspect is a new minimum tax for large companies.
In other words, it is a clear redistributive strategy in a society where inequality is at the base not only of the economic difficulties of a large part of the citizenry, but also of the growing social tensions.
However, it is doubtful that, despite its name, the law will be effective in combating inflation, another of the main causes of discontent with the current administration.
In any case, the approval of this plan places Biden above squabbles and short-haul negotiations and represents a relevant victory for him and for the future of the United States. Given an undesirable prospect of economic recession looming on the horizon and a very conservative social agenda, marked above all by the Supreme Court, the president sends voters an exciting message of realism, negotiating flexibility and political initiative that dismantles the destructive Republican message and Trump's stridency ahead of the crucial November elections.
