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America Age > Blog > Politics > Biden Is on a Roll That Any President Would Relish. Is It a Turning Point?
Politics

Biden Is on a Roll That Any President Would Relish. Is It a Turning Point?

Enspirers | Editorial Board
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Biden Is on a Roll That Any President Would Relish. Is It a Turning Point?
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“There are few better feelings in a White House than when the fever of bad news breaks, because it gives a much-needed boost to the exhausted team and also sends a message to the American people that government can actually do something,” said Jen Psaki, Mr. Biden’s former White House press secretary.

Contents
What’s in the Climate, Health and Tax BillBehind the Journalism

What’s in the Climate, Health and Tax Bill


Card 1 of 8

Auto industry. Currently, taxpayers can get up to $7,500 in tax credits for purchasing an electric vehicle, but there is a cap on how many cars from each manufacturer are eligible. The new bill would eliminate this cap and extend the tax credit until 2032; used cars would also qualify for a credit of up to $4,000.

Energy industry. The bill would provide billions of dollars in rebates for Americans who buy energy efficient and electric appliances. Companies would get tax credits for building new sources of emissions-free electricity. $60 billion is set aside to encourage clean energy manufacturing and penalties for methane emissions that exceed federal limits starting in 2024.

Health care. For the first time, Medicare would be allowed to negotiate with drugmakers on the price of some prescription medicines. The bill would also extend subsidies available under the Affordable Care Act, which were set to expire at the end of the year, for an additional three years.

Tax code. The bill would introduce a new 15 percent corporate minimum tax on the profits companies report to shareholders, applying to companies that report more than $1 billion in annual income but are able to use credits, deductions and other tax treatments to lower their effective tax rates. The legislation would bolster the I.R.S. with an investment of about $80 billion.

Low-income communities. The bill would invest over $60 billion to support low-income communities and communities of color that are disproportionately burdened by climate change. This includes grants for zero-emissions technology, as well as money to mitigate the negative effects of highways and other transportation facilities.

Fossil fuels industry. The bill would require the federal government to auction off more public space for oil drilling and expand tax credits for coal and gas-burning plants that rely on carbon capture technology. These provisions are among those that were added to gain the support of Senator Joe Manchin III, Democrat of West Virginia.

West Virginia. The bill would also bring big benefits to Mr. Manchin’s state, the nation’s second-largest producer of coal, making permanent a federal trust fund to support miners with black lung disease and offering new incentives to build wind and solar farms in areas where coal mines or coal plants have recently closed.

“It’s potentially a narrative-changing moment,” said Cornell Belcher, a Democratic pollster who worked for President Barack Obama when Mr. Biden was his vice president. Mr. Biden’s low approval ratings, he noted, reflected disappointment among his own base that he had not brought the change they had expected. “It’s kind of hard to say the president hasn’t gotten things done or accomplished anything and kept his campaign promises when you now look at his legislative track record.”

But legislation and other policy advances may not address one major political liability. At 79, he is the oldest president in American history, and polls show that many think he should not run for re-election as a result. Two-thirds of Democrats in a recent New York Times/Siena College survey said they wanted a different nominee in 2024; age was the top reason, cited by 33 percent.

Congressional Democrats are naturally more concerned with the midterm elections, as they trail in their bid to hold onto their narrow majority in the House. Unless the win streak can lift the president’s low approval ratings, it may make little difference for them in November, and some of them are skeptical that Mr. Biden can effectively sell his record to the public in the short time left.



How Times reporters cover politics. We rely on our journalists to be independent observers. So while Times staff members may vote, they are not allowed to endorse or campaign for candidates or political causes. This includes participating in marches or rallies in support of a movement or giving money to, or raising money for, any political candidate or election cause.

“I suspect it will help with motivating Democratic activists and with fund-raising,” said Sara Fagen, who was the White House political director for President George W. Bush. “Those two things will matter in close races, but the president’s job approval would need to improve about seven points to move the needle on the House. With inflation where it is today, I don’t see it.”

Indeed, inflation remains the big skunk in the Rose Garden for Mr. Biden, souring the public as prices rise for food, housing and other necessities at the highest rate in four decades. But the White House hopes the public will balance that against the spate of successes of recent weeks, including a surprisingly robust jobs report; falling gas prices; a drone strike that killed Ayman al-Zawahri, the leader of Al Qaeda; the approval of a treaty admitting Finland and Sweden to NATO; and passage of major legislation investing in the domestic semiconductor industry and expanding medical care‌ to military veterans exposed to toxic burn pits.

TAGGED:Biden, Joseph R JrCoronavirus (2019-nCoV)Inflation Reduction Act of 2022The Washington MailUnited States Politics and Government
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