News

Joe Biden Signs Inflation Reduction Act Into Law After Months Of Debate

President Joe Biden finally signed the Inflation Reduction Act into law on Tuesday, marking a significant win for his domestic agenda.

“With this law, the American people won and the special interests lost,” Biden said in remarks made ahead of the bill’s signing. “For a while, people doubted whether any of that was going to happen, but we are in a season of substance.”

The $750 billion bill will be signed into law by the President with midterms just a few months away, marking a significant win for Biden’s domestic agenda. It is aimed at combating climate change, investing in green energy programs and allowing Medicare to negotiate prices on prescription drugs for the first time. It also represents the largest commitment to fighting climate change by the U.S. government ever by delegating around $370 billion to the cause.

Subscribe to our free weekly newsletter!

A week of political news in your in-box.
We find the news you need to know, so you don't have to.

Biden’s long-sought social spending bill started out as the multi-trillion dollar Build Back Better Act before moderate Sen. Joe Manchin (D-West Virginia) blocked it back in December. After months of negotiations, Manchin and Senate Majority Leader Chuck Schumer (D-New York) reached an agreement. The bill was passed in a party-line vote of 51-50 with Vice President Kamala Harris serving as the tie-breaker. Last week, House Democrats passed Biden’s signature bill in a 220-207 vote.

“Today, too often do we confuse noise with substance,” Biden added. “Too often we confuse setbacks with defeat. Too often we hand the biggest microphones to the critics and the cynics who delight in declaring failure while those committed to making real progress do the hard work of governing. Making progress in this country, as big and complicated as ours, clearly, is not easy. It’s never been easy. But with unwavering conviction, commitment, and patience, progress does come.”

Rose Carter

Share
Published by
Rose Carter

Recent Posts

ABC News Reporter Terry Moran Suspended For Tweet Mocking Trump Deputy Stephen Miller

ABC News Correspondent Terry Moran has been suspended following a now-deleted post on X. In…

1 hour ago

Trump Imposes Travel Ban & Entry Restrictions On 19 Countries After Colorado Terror Attack Of Jewish Group

President Donald Trump announced that, starting June 9, citizens of 12 countries would be banned…

1 hour ago

Russian Wife Of Trump-Appointed State Department Official Darren Beattie Denies Ties To Vladimir Putin

The Russian wife of US State Department official Darren Beattie has denied reports of having…

2 hours ago

Defense Sec. Pete Hegseth Announces Removal Of Gay Rights Hero Harvey Milk’s Name From Navy Ship, Pelosi Calls Move ‘Shameful’

As celebrations begin to commemorate Pride Month in the U.S., Defense Secretary Pete Hegseth announced…

3 hours ago

California Gov. Gavin Newsom Calls Trump’s Threats To Arrest Him ‘Authoritarian’

In the wake of President Donald Trump's unilateral deployment of National Guard troops to Los…

3 hours ago

Bill Clinton Vouches For Biden’s Health & Cognitive Abilities: ‘He’s In Good Shape’

Former President Bill Clinton came to former President Joe Biden’s defense during an interview on…

1 day ago