On Tuesday, US President Joe Biden signed democrat’s landmark climate change and health care bill into law. As he aims to boost his party’s standing with voters less than three months from the midterm elections, he called it the “final piece” of his pared-down domestic agenda.
Over the next decade, the government will invest $375 billion in fighting climate change. Prescription drug costs for Medicare recipients would also be capped at $2000 per year out of pocket. By extending subsidies provided during the Coronavirus pandemic, an estimated 13 million Americans would be able to purchase health insurance.
Additional funds are being used to reduce the federal deficit by raising taxes on large companies and stepping up IRS enforcement of wealthy individuals and entities. As he road-tested a line he’ll likely repeat later this fall ahead of the midterm elections, Biden cited the law as proof that democracy- however long or messy- can still deliver for voters in America.
He said, “The American people won and the special interest lost. In this historic moment, Democrats sided with the American people, and every single Republican in congress sided with the special interest in this vote.