The Intelligence from The Economist Deus ex Manchina: American climate legislation’s revival
Jul 29, 2022
Idris Kaloun, Washington bureau chief, discusses the surprising revival of Biden’s climate bill thanks to Senator Joe Manchin's newfound support, risking a pivotal shift in U.S. climate policy. Tim Cross highlights the booming popularity of women's sports post-COVID-19, shining a light on the evolving funding and sponsorship landscape. Anne Rowe reflects on the legacy of Ko Jimmy, an influential figure in Myanmar's democracy movement, celebrating his resilience in the face of turmoil.
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Manchin's Opposition
- Joe Biden's climate legislation faced opposition, including from Senator Joe Manchin.
- Manchin's resistance stemmed from concerns about inflation and the impact on West Virginia's coal industry.
Manchin's Reversal
- In a surprise move, Senator Manchin agreed to support a $740 billion climate and tax package.
- This reversal has reinvigorated Democrats' hopes for climate action.
Climate and Energy Spending
- The bill includes $370 billion in spending for climate change and energy production, including tax credits and incentives for green technologies.
- Democrats believe this will reduce carbon emissions by 40% by 2030, compared to 2005 levels.