U.S. News
Biden signs $430 billion climate, healthcare and tax bill into law [Video]
WHAT YOU NEED TO KNOW:
- President Joe Biden signed the Inflation Reduction Act, a sweeping climate change and health care bill, into law on Tuesday.
- The bill is seen as the biggest climate package in U.S. history.
- Biden swiped at Republicans saying: “In this historic moment, Democrats sided with the American people and every single Republican sided with the special interests.”
President Joe Biden on Tuesday signed into law a $430 billion bill designed to cut domestic greenhouse gas emissions as well as lower prescription drug prices and high inflation. It is seen as the biggest climate package in U.S. history.
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 blockaded much larger measures pushed by the White House.
“Joe, we never had a doubt,” Biden said of Manchin. Biden later handed Manchin the pen he used to sign the legislation.
Manchin called the legislation a “balanced bill”.
Biden used the signing to criticize Republicans. Democrats hope to capitalize on a string of legislative victories in congressional midterm elections in November and roll out inflation act ad campaigns.
“In this historic moment, Democrats sided with the American people and every single Republican sided with the special interests,” said Biden. “Every single Republican in Congress voted against this bill.”
The legislation to fight climate change and lower prescription drug prices aims to cut domestic greenhouse gas emissions. It will also allow Medicare to negotiate lower drug prices for the elderly and ensure that corporations and the wealthy pay the taxes they owe.
Democrats say it will help combat inflation by reducing the federal deficit. Rating agencies and independent economists agree but say the results will take years.
Senate Majority Leader Chuck Schumer, who was also present at the bill signing, said Biden knew when to stay away from the negotiations and allow them to play out.
“He knew precisely when to step in and when to let negotiations play out. He knew when to use the bully pulpit and when to bring people together away from the spotlight. He made sure we never lost our focus on climate.”
Republicans criticized the legislation for doing little to lower prices. Senate Republican leader Mitch McConnell said the new law will have the opposite impact.
“Democrats robbed Americans last year by spending our economy into record inflation. This year, their solution is to do it a second time. The partisan bill President Biden signed into law today means higher taxes, higher energy bills, and aggressive IRS audits,” he said, referring to the Internal Revenue Service.
Source: The Hill
CandygramForMongo
August 18, 2022 at 7:16 am
What a lying phucking cunt! Democrats are for SOECUAL INTEREST, ESPECIALLY SINCE THEY’RE INVESTED IN THESE FAILED, CLIMATE KILLING ENERGIES!!!!! WHAT BECOMES OF WIND TURBINES WHEN THEIR LIFE EXPECTANCY IS OVER? NOTHING!!!! THEY ARE PLACED IN LANDFILLS, NEVER TO BE USED OR RECTCLED AGAIN. ONLY ANOUT 10% OF SOLAR CAN BE BROKEN DOWN WHEN IT FAILS. ONLY POLITICIANS ON THE LEFT ARE INVESTED, SO OF CIURSE WE’RE GOING TO FOOT THE BILL. IMPEACH THIS POS……..FOR OUR CHILDRENS SAKE!!!!
Bob Page
August 18, 2022 at 7:30 am
There is no lie the DemoRATS are unwilling to tell. Biden talks about “special interests” like it belongs to the Republicans and we all know that Biden’s “special interests” are the Chinese communists and the Russians not to mention Iran and a few others. Here is a guy that has never had a job beyond being a politician and he tells us this bill will help us?? The gall of this moron deserves to be in the hall of shame. And his son (Hunter) belongs in prison. Buyers remorse does not describe my loathing of this crook.
C Joe Hughes
August 18, 2022 at 7:48 am
Democrats are lieing to us and getting away with it. 78,000 IRS Agents??? Bigger than Pentagon, CIA, & Homeland Security? They are insane! It will contribute to unflation.
Uncle Art
August 18, 2022 at 7:49 am
Remember when we used to have the best government money could buy ? They built America. This one is only interested in destroying it to fill their pockets and hope to sit at the table of satin
Tim
August 18, 2022 at 10:34 am
In such a short time, the Democrats have wasted more money than the next 3 generations can possibly pay back!
They are very close to their goal of complete dependence on the government by everyone.
Mid terms are the ONLY chance we’ve got to stop their idiocy,& maybe pull back some of the waste!
PtheC
August 18, 2022 at 12:10 pm
I think we all agree that developing renewable energy should be a goal, we need to invest in such technology but have some common sense “man”! This constant bait and switch act and miss leading the public is instantly at its best. Anyone who thinks you can pump trillions of dollars into the economy and not have inflation is just stupid. O
Democrats (not all) seem to think that government is the answer, it’s the problem. If you have ever worked in a government agency and had a lick of common sense, you most likely had 100’s of ideas that would have made things more efficient….but they go nowhere. Ever get into a debate with a brain washed liberal? When they run out of facts, they make things up, when they run out of logic they label you or personally attach you. What is really sad is that they seem to want help from the government not realizing that that help comes from tax payers not the government. Most, again not all, would much rather have you give them the corn instead of teaching you how to grow it!! Keep voting for them and keep giving away your self respect, dignity and freedom it’s shameful. Get educated !!!
thomas alley
August 19, 2022 at 8:59 pm
This bill will just further increase inflation. you dont lower inflation with more taxes and more spending by government. When republicans retake the hlouses the first thing they need to do is vote this bill away. Then reverse all biden related bill on the border and economy. we need to stop spending vmoney tbis country doesnt have.