Betting Opens on Joe Biden Completing Full Term of Presidency
Joe Biden has seen his chances of remaining in the White House for a full four-year term reduced following his struggles to push through core energy legislation to tackle climate change.
President Biden has endured a mixed first year in office as we near the anniversary of his election victory over Donald Trump and politics betting sites are offering odds on how long his reign will last.
The 78-year-old’s approval ratings have steadily declined since his inauguration in January, while the proportion of Americans that now think badly of their president is almost at 50%.
Passing through major legislation around coronavirus, healthcare and green energy has been central to Biden’s policy during the past 10 months.
But he continues to hit stumbling blocks wherever he turns – and the latest dispute among Democrats could severely derail his energy agenda, which in turn is having an impact on the president’s own odds.
Betting Odds on Biden
According to the best betting sites, Biden’s odds of seeing out his first term in office have slid over the past few days.
The three-point drop now means punters believe he has just a 66% chance of remaining in the White House, according to the 2024 US election.
The reason for the slide appears to be the expected face-off between Biden and Democratic Senator Joe Manchin, who is opposed to the legislation outlined in the Clean Energy Performance Programme (CCPP) that states energy companies will be paid to switch to green sources, while non-green energy companies will be fined.
Manchin is a senator for the fossil-fuel heavy state of West Virginia. With the Senate currently split 50/50, Biden and his VP Kamala Harris need every Democrat on board to push through the CCPP. Yet even one rebel – in this case Manchin – means aspects of the CCPP may have to be withdrawn.
There is a concern that part of Biden’s big green policy will need to be rewritten. Concessions are, of course, nothing new in Congress but opposition from within the party on such a keystone policy certainly casts questionable light onto the president’s authority.
And the issue exposes just how fragile a position Biden’s administration is in when it comes to passing legislation.
Will Biden last to 2024?
Of course, wrangling over a climate and energy bill won’t be what dictates Biden’s future. The Democrats aren’t exactly going to push for his withdrawal, while the Republicans will likely have to wait until next year’s midterms for a chance to force the president’s exit.
Partisan politics in DC has certainly become the norm since Trump’s administration effectively shut out the Democrats. In turn, Democratic efforts to oust Trump saw the businessman twice impeached, and twice relieved.
The odds on Biden with the best politics betting sites being impeached currently sit at around 6/1, which suggests just a 14% chance of it happening within the next three years. In reality, Biden is going nowhere right now… just like some aspects of his green energy bill.
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