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Biden's Mega Climate Bill Also Gets House Support

In Washington, the Democrat majority in the House of Representatives also voted in favor of President Joe Biden's mega-climate bill. It not only frees up hundreds of billions of dollars for environmental and climate policies in agriculture, but also for modernizing and tackling deferred maintenance of rural America. 

A compromise had previously been found in the Senate. Biden said he would sign the bill next week, after which the White House will hold a celebration on Sept. 6 to honor what he called "this landmark legislation."

With this tax, health and climate bill, Democrats and President Biden have won a major victory just three months before crucial midterm elections. 

Parliament approved the package of more than $ 430 billion by a vote of 220 to 207, as all Democrats supported the proposal and all Republicans opposed it.

The move puts an end to a more than year-long struggle within Democrats in which President Biden's initial overall package had been properly "stripped down." 

The plan includes a record $369 billion in climate and energy policies to reduce carbon emissions by approximately 40% by 2030. There is also 64 billion to reduce health insurance costs.

Much attention is paid to the mega-subsidies for the production of electric cars in the US. It is not the buyers who receive a discount or subsidy upon purchase, but the car companies upon delivery. This incentive therefore does not apply to imported foreign electric vehicles.

The bills are estimated to increase tax bills by $ 737 billion for large corporations and wealthy Americans over the next decade. Biden ends many 'exemptions' for large multinationals with a minimum tax of 15 percent. Democrats say the bill will also reduce the government deficit by more than $ 300 billion.

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