CAROLINA SARASSA: And in more from the White House, President Joe Biden declares victory. I'm talking about a project focused on several things: health care, climate change, and taxes, among other topics of interest passed by the Senate. However, it is quite far from his ambitious proposal, but which adheres to (Biden’s) promise not to increase taxes on families or companies that earn less than $400,000 a year. Edwin Pitti is in the capital with more information. Edwin, how are you? Go ahead.
EDWIN PITTI: That's right, how are you. Good afternoon. Expectations are rising after the extended debate in the Senate that ran throughout the weekend, which resulted in the 50-50 passage on a party-line vote of the “Inflation Reduction Act”, giving President Joe Biden a significant victory.
But to achieve this, it was necessary for Vice President Kamala Harris to arrive to break the tie, since no Republican wanted to support it.
But speaking of what this bill includes, we are talking about the fact that Medicare is now going to have the power to negotiate the price of medications, and that directly benefits older adults with Medicare since they are going to be able to somehow not have to pay more than $2,000 a year in drug costs. We are also talking about a (minimum) 15% corporate tax rate, and that will help pay for different federal programs.
Getting into climate matters, we are talking about a historic investment- $369 billion dollars to fight climate change. We are talking about also seeking to reduce greenhouse gas emissions by 40% by the end of this decade. In addition, (the bill) seeks to give credits to people or companies that use solar panels, or buy electric cars or vehicles.
When could we expect this to pass? As soon as later this week, specifically on Friday, when House members return to Washington from their recess, they pass it with the Democratic majority that they have, and then it is signed into law by President Joe Biden. This is Edwin Pitti reporting from Washington, back to you in the studio.
BORJA VOCES: Well, thank you very much, Edwin, for the report.