President Joe Biden is preparing to sign Democrats’ landmark climate change and health care bill, which includes the most substantial federal investment in history to fight climate change. FOX13
The legislation includes the most substantial federal investment in history to fight climate change — some $375 billion over the decade — and would cap prescription drug costs at $2,000 out-of-pocket annually for Medicare recipients.
It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided duringThe measure is paid for by new taxes on large companies and stepped-up IRS enforcement of wealthy individuals and entities, with additional funds going to reduce the federal deficit. The House on Friday approved the measure on a party-line 220-207 vote. It passed the Senate days earlier withSenator Tina Smith gets emotional after passage of Inflation Reduction Act The Minnesota Democrat called the $740 billion package "one of the most consequential" pieces of legislation she's ever worked on. Biden is set to sign the bill during a small ceremony in the State Dining Room of the White House, sandwiched between his return from a six-day beachside vacation in South Carolina and his departure for his home in Wilmington, Delaware. He plans to hold a larger "celebration" for the legislation on Sept. 6 once lawmakers return to Washington. The signing caps a spurt of legislative productivity for Biden and Congress, who in three months have approved legislation on veterans’ benefits, the semiconductor industry and gun checks for young buyers. The president and lawmakers have also responded toWith Biden’s approval rating lagging, Democrats are hoping that the string of successes will jump-start their chances of maintaining control in Washington in the November midterms. The 79-year-old president aims to restore his own standing with voters as he contemplates a reelection bid. FILE - US President Joe Biden speaks before signing S. 3373, the Sergeant First Class Heath Robinson Honoring our Promises to Address Comprehensive Toxics Act of 2022, in the East Room of the White House in Washington, D.C., US, on Wednesday,The White House announced Monday that it was going to deploy Biden and members of his Cabinet on a "Building a Better America Tour" to promote the recent victories, though the administration has yet to announce specific travel by the president. "In the coming weeks, the President will host a Cabinet meeting focused on implementing the Inflation Reduction Act, will travel across the country to highlight how the bill will help the American people, and will host an event to celebrate the enactment of the bill at the White House on September 6th," the White House said in a statement.
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