United States, President Joe Biden has signed a $700bn (£579bn) bill that aims to fight climate change, and healthcare costs, reduce the deficit and impose a minimum tax on the profits of the largest corporations.
Biden recently signed into law the Inflation Reduction Act at a bill signing ceremony in the State Dining Room of the White House.
He praised the legislation as among the most significant measures in the history of the country.
“Let me say from the start: With this law, the American people won and the special interests lost,” Biden said.
His administration had begun amid “a dark time in America,” Biden added, citing the coronavirus pandemic, joblessness, and threats to democracy.
“And yet we’ve not wavered, we’ve not flinched and we’ve not given in,” Biden said. “Instead, we’re delivering results for the American people. We didn’t tear down. We built up. We didn’t look back. We look forward. And today — today offers further proof that the soul of America is vibrant, the future of America is bright, and the promise of America is real.”
The House passed the bill last Friday in a 220-207 vote, days after the Senate narrowly passed it on a party-line vote, with Vice President Harris serving as the tiebreaker.
The bill’s passage marked one of the most successful legislative efforts by congressional Democrats this session, ahead of contentious midterm elections — and also one that seemed increasingly unlikely for about a year and a half.
