U.S. President Joe Biden has officially signed the $430 billion Inflation Reduction Act into law
It’s a sign his administration is able to power ahead with its legislative agenda.
The fate of the bill look almost certainly set to doom, but last-minute support from Senator Joe Manchin of West Virginia meant is could pass.
Biden used his address at the signing event to criticise the Republican party, all in an attempt to boost support for the Democrats in the upcoming midterms.
“This bill is the biggest step forward on climate ever, and it’s going to allow us to boldly take additional steps toward meeting all of the climate goals we set out when we ran,” Biden said before signing the bill.
“It includes ensuring that we create clean energy opportunities in frontline and fenceline communities that have been smothered by the legacy of population and fight environmental injustice that has been going on for so long.”
The legislation will help fight climate change and lower prescription drug prices, while also ensuring corporations and the wealthy pay the taxes they owe.
Democrats hope it will combat inflation by reducing the federal deficit, but Republican leaders, including Mitch McConnell say it will have the opposite impact.
