It now goes to the House and should pass by Friday.
We are now halfway through the process to have the most environmentally friendly bill that will help save our economy and mitigate climate change.
What a win for Biden and the Democrats!
- American Rescue Plan
- Gun Safety
- PACT Act
- Inflation Reduction Act (climate + health care)
Against historical midterm headwinds, this is one hell of a legislative agenda Democrats have muscled through in two years.
Past 10 days:
Senate Inflation Reduction Act
Congress passes CHIPS Plus
Zawahiri mission Burn Pits (PACT Act) passes
Record job creation / 50-year low unem rate
Gas prices below $3.99 at most
NATO expansion: Finland and Sweden
Exec Action on Repro Rights
The following is included in the bill:
NOW PASSED THE SENATE
-- Biggest-ever climate bill: Massive industry clean energy $; $80B for EVs, heat pumps, home solar installation)
-- Biggest-ever funding increase for the IRS
-- 15% tax on corporations w/ +$1 billion in profits
-- Medicare prescription drug negotiation
Obviously health & tax stuff matter too but on climate/energy side:
-- Up to $7,500 to buy an EV
-- Up to $2K for heat pump
-- 30% off home rooftop solar
-- $840 for electric cooktop (cc: @MattBruenig)
-- Up to $9K for electric panel/home insulation
Imposing a 15% corporate minimum tax rate for companies with higher than $1 billion of annual financial statement income – $313 billion
Prescription drug price reform to lower prices, including Medicare negotiation of drug prices – $288 billion
Increased tax enforcement – $124 billion
Imposing a 1% excise tax on stock buybacks - $73 billion
It would spend this revenue on:
Continuing for three more years the expansion of Affordable Care Act subsidies originally expanded under the American Rescue Plan Act of 2021 – $64 billion
Addressing domestic energy security and climate change – $369 billion
Funding for drought relief - $5 billion
Deficit reduction – $306 billion
As part of the investment into energy, the bill would extend the solar investment tax credit for 10 years. After the publication of the bill's initial draft text, it was announced that Democrats would also work towards adding provisions to cap insulin prices to the bill.
Several provisions in the initial deal between Schumer and Manchin were changed after negotiations with Sinema: a provision narrowing the carried interest loophole was dropped, a 1% excise tax on stock buybacks was added, manufacturing exceptions were added to the corporate minimum tax, and funding for drought relief in Arizona was added.
Read up on how the deal came to be:
How the IRA might impact you and change the US:
How the IRA is giving Democrats a needed morale boost
“Analysis covers 3,156 counties from all 50 states and Washington DC, of which 2650 went Republican and 506 went Democratic in 2016…. The median Republican counties had a 13% higher obesity rate, a 21% higher diabetes rate.”
Health, disease, and mortality vary greatly at the county level, and there are strong geographical trends of disease in the United States. Healthcare is and has been a top priority for voters in the U.S., and an important political issue. Consequently, it is important to determine what relationship voting patterns have with health, disease, and mortality, as doing so may help guide appropriate policy. We performed a comprehensive analysis of the relationship between voting patterns and over 150 different public health and wellbeing variables at the county level, comparing all states, including counties in 2016 battleground states, and counties in states that flipped from majority Democrat to majority Republican from 2012 to 2016. We also investigated county-level health trends over the last 30+ years and find statistically significant relationships between a number of health measures and the voting patterns of counties in presidential elections. Collectively, these data exhibit a strong pattern: counties that voted Republican in the 2016 election had overall worse health outcomes than those that voted Democrat. We hope that this strong relationship can guide improvements in healthcare policy legislation at the county level.
Democrats are celebrating all over twitter and one of the White House staff used his official 46 account to post a Dark Brandon meme so now it goes into the National Archives.
I bet you Biden joins in pretty soon. Ron Klain is close to actually saying the words, Dark Brandon.
The memes aren't just fun they fill a policy need as well:
The Joebama meme kept us going through a lot of stuff and now we have Dark Brandon.
I really love memes and easy graphics to shut up Trumpers. See below for more.
Got a new Dark Brandon meme a video one! Watch it and laugh.