Biden Signs Inflation Reduction Act Into Law
Biden signs $430 billion climate, healthcare and tax bill
President Joe Biden on Tuesday signed into law a $430 billion bill that is seen as the biggest climate package in U.S. history, designed to cut domestic greenhouse gas emissions as well as lower prescription drug prices.
At a White House event, Biden was joined by Democratic leaders including Senator Joe Manchin of West Virginia, whose support was crucial to passage of the Inflation Reduction Act along party lines after he had initially opposed a similar measure.
“Joe, we never had a doubt,” Biden said of Manchin.
Biden Signs Massive Democratic Spending Bill into Law, Ignores Nonpartisan Analysts to Claim It Will Fight Inflation
President Biden on Tuesday signed Democrats’ massive spending bill into law, calling it the “biggest step forward on climate ever.”
“With this law, the American people won, and the special interests lost,” Biden said during a signing ceremony at the White House. “For a while people doubted whether any of that was going to happen, but we are in a season of substance.”
He said the bill’s passage is proof for “the American people that democracy still works in America, notwithstanding… all the talk of its demise, not just for the privileged few, but for all of us.”
Joe Biden Signs Scaled-Back Version of ‘Build Back Better’ Agenda Into Law
President Joe Biden on Tuesday signed a scaled-back version of his ambitious “Build Back Better” agenda into law, capping off a series of modest legislative wins heading into the autumn midterms.
“With this law, the American people won, and the special interests lost,” Biden said.
The measure increases investments in renewable energy, imposes a fee on methane emissions, allows Medicare to negotiate with drug companies to win lower prices for prescription drugs, and extends larger subsidies to poorer families enrolled in the Affordable Care Act.