President Joe Biden signed the Democratic Party's landmark climate change and health care bill into law on Tuesday, what he called the "final piece" of a simplified domestic agenda. and his party's voter approval ratings are up to three months before the midterm elections.
The legislation includes the largest federal investment in history to combat climate change (approximately $375 billion over 10 years) and reduces the cost of prescription drugs for Medicare beneficiaries. That's going to be $2,000 a year. It will also help an estimated 13 million Americans pay for their health insurance by extending subsidies provided during the coronavirus pandemic.
The measure is funded by a new tax on large corporations and enhanced IRS enforcement on wealthy individuals and entities, with additional funds to reduce the federal deficit. I'm here.
At a triumphant signing event at the White House, Biden offered evidence that democracy — no matter how lengthy or cumbersome the process — can deliver to American voters. Pointed out the law.Later this fall, the phrase "the American people won, the special interests lost" could be repeated.
The House of Representatives approved the bill on Friday by a 220 to 207 partisan vote. It passed the Senate a few days ago, with Vice President Kamala Harris on the floor to her 50-50 draw.
"Under normal circumstances, getting these bills into law would be a great achievement," Senate Majority Leader Chuck Schumer said at a ceremony at the White House. "But with Democrats only getting 50 votes in the Senate, it's amazing to do that against an uncompromising Republican minority." Between returning from a six-day beachside vacation and leaving for his home in Wilmington, Delaware, he signed the bill into law in a small ceremony at the White House state dining room. . He plans to hold a larger “celebration” for legislation on Sept. 6 once lawmakers return to Washington. In just three months, laws were passed on veterans benefits, the semiconductor industry, and gun testing for young buyers. The president and lawmakers also responded to Russia's aggression against Ukraine and overwhelmingly supported Sweden and Finland's NATO membership. , hopes to increase its chances of maintaining its leadership in Washington in November's midterm elections. The 79-year-old president is looking to restore relations with his voters as he seeks re-election.
The White House announced Monday that it would send Biden and his cabinet members on a "tour to build a better America" to further the recent victory. One of Biden's trips will be to Ohio, where he will tour a groundbreaking semiconductor factory that will benefit from recent laws that will boost the production of such computer chips as his. He also plans to stop by Pennsylvania to advance the administration's plans for safer communities, a visit planned the same day he tested positive for COVID-19 last month. .
Republicans say the law's new business tax will raise prices, worsening the nation's game with the highest inflation rate since 1981. price.
On Tuesday, Senate Minority Rep. John Thune continued with the same criticism, but admitted there were "benefits" through extended tax credits for renewable energy projects such as solar and wind.
“You spend too much, you tax too much and in my view you have the wrong priorities. It's a very big, huge IRS, but a lot of middle-income taxpayers," Thune said at a Chamber of Commerce event in Sioux Falls. The administration disputes that anyone but high-income earners will face increased tax scrutiny, and Treasury Secretary Janet Yellen has said the new audit will only focus on businesses and those earning $400,000 or more.
The bill is a scaled-down version of the more ambitious plan Biden and his party announced early last year to strengthen environmental and social programs. is.
Biden's $3.5 trillion proposal for his first decade also envisioned free pre-kindergarten, paid family and medical leave, expanded Medicare benefits, and relaxed immigration restrictions. . It fell apart after Democratic centrist Senator Joe Manchin said it was too costly. "Joe, I had no doubts," Biden said to Manchin, who last month signed an important contract with Schumer over a package, and the crowd laughed. Although the law is considerably smaller than its original ambitions, Biden and Democrats have hailed it as a once-in-a-generation investment in addressing the long-term effects of climate change and drought in the western part of the country.
This measure would reduce spending, tax credits, loans, technology such as solar panels, consumer efforts to improve home energy efficiency, and emissions from coal- and gas-powered power plants. abatement facilities, and farms, ports, and low-income communities;
In addition, if he had $64 billion, under the Affordable Care Act, over the next three years, he would be able to pay premiums for 13 million people's personally purchased health insurance. I can do it. Medicare will initially give him the power to negotiate drug costs for 10 different drugs by 2026. Out-of-pocket prescription costs for Medicare recipients will be capped at $2,000 annually starting in 2025, and starting next year, they won't be paying more than $35 a month for insulin, an expensive diabetes drug.
Democratic Rep. Jim Cliburn of South Carolina, a staunch political ally of Biden, said at a ceremony at the White House that his late wife Emily, who has battled diabetes for 30 years, If she was diabetic, she said it would be "beyond joy".I'm still alive today thanks to an insulin cap.
"A lot of people seem to be surprised by your success," Cliburn told Biden. "I'm not. I know you." }
