US House passes Biden's $1.75tn social spending bill


Kyle Fitzgerald
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US House Democrats brushed aside months-long divisions to push their expansive social and environment bill through a sharply divided chamber on Friday, as President Joe Biden and his party moved closer to capitalising on their control of government by funneling resources towards their top domestic priorities.

Mr Biden said the bill's passage puts the US economy back on track to rebuild the American middle class.

The bill took "another giant step forward in carrying out my economic plan to create jobs, reduce costs, make our country more competitive and give working people and the middle class a fighting chance", Mr Biden said in a statement.

Known as Build Back Better, the bill is designed to overhaul health care, taxation, climate policy and education.

Included in the bill are universal pre-kindergarten, four weeks of paid family leave, over $500 billion to fight climate change, childcare subsidies and more.

In a victory lap following the vote, US House Speaker Nancy Pelosi touted passage of the bill as a "cause for celebration".

"This bill is monumental. It's historic, it's transformative, it's bigger than anything we've ever done," she said.

Ms Pelosi has frequently described the bill as transformative for women and children, in particular.

"We'll be telling our children and our grandchildren that we were here this day," she said.

The move comes after Republican House Minority Leader Kevin McCarthy spoke for more than eight hours starting late Thursday night in remarks cataloging a list of Republican grievances - some related to the bill and some not - while at times shouting over Democrats in the House who were openly dismissive of his obstruction.

It also follows the Congressional Budget Office's estimate that the bill would raise federal budget deficits by $367 billion over 10 years, but that additional revenues from improved Internal Revenue Service (IRS) tax collection could generate a net increase in revenue of $127bn through 2031.

The White House estimates the IRS changes will generate $400bn in additional revenue and says the bill overall will reduce deficits by $121bn over a decade.

Several moderate Democrats said they needed the budget office's assessment before they would vote, and several of them said they accepted the White House's math.

Opponents of the bill have argued that it will contribute to the nation's rising inflation, but Democrats have said the bill will actually counter it, as measures in the bill would lower prescription drug prices as well as the cost of childcare.

"Want to fight inflation? Support Build Back Better," US Senate Majority Leader Chuck Schumer said this week.

The legislation follows the $1tn infrastructure investment bill that Mr Biden signed into law this week - another key pillar of his domestic agenda - and a separate $1.9tn Covid-19 relief package that passed in March.

The social spending bill still needs approval in the Senate, where it is likely to face changes before Mr Biden can sign it into law.

Its success in the upper chamber is also not guaranteed, as Democrats hold an even slimmer majority there and cannot afford to lose any votes.

Mr Schumer wants the bill to pass the Senate before Christmas.

Moderate Democrat Joe Manchin has long frustrated his senatorial colleagues with his reluctance to support the bill and has yet to give any indication that he will vote for it.

But Ms Pelosi appeared confident that the bill would pass the upper chamber, noting that the most difficult part is now over.

"The biggest hurdle was to get the bill there. The biggest challenge was to meet the vision of President Biden," she said.

Agencies contributed to this report

Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

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Name: Rain Management

Year started: 2017

Based: Bahrain

Employees: 100-120

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A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

The Meg
Director: Jon Turteltaub
Starring:   
Two stars

Venue: Sharjah Cricket Stadium

Date: Sunday, November 25

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

UAE currency: the story behind the money in your pockets
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List of alleged parties

 

May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff 

May 20, 2020: They attend 'bring your own booze party'

Nov 27, 2020: PM gives speech at leaving party for his staff 

Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson 

Dec 13, 2020: PM and his wife throw a party

Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters 

Dec 15, 2020: PM takes part in a staff quiz 

Dec 18, 2020: Downing Street Christmas party 

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Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
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Joe Root (captain), Moeen Ali, Jimmy Anderson, Jofra Archer, Jonny Bairstow, Stuart Broad, Rory Burns, Jos Buttler, Sam Curran, Joe Denly, Jason Roy, Ben Stokes, Olly Stone, Chris Woakes. 

'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap​​​​​​​
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal​​​​​​​
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Updated: November 19, 2021, 4:27 PM