Economic Indicators

Biden signs $430 billion climate, healthcare and tax bill

2022.08.16 23:29

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Biden signs $430 billion climate, healthcare and tax bill
U.S. President Joe Biden signs “The Inflation Reduction Act of 2022” into law during a ceremony in the State Dining Room of the White House in Washington, U.S. August 16, 2022. REUTERS/Leah Millis

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WASHINGTON (Reuters) – President Joe Biden on Tuesday signed into law a $430 billion bill that is seen as the biggest climate package in U.S. history, designed to cut domestic greenhouse gas emissions as well as lower prescription drug prices.

At a White House event, Biden was joined by Democratic leaders including Senator Joe Manchin of West Virginia, whose support was crucial to passage of the Inflation Reduction Act along party lines after he had initially opposed a similar measure.

“Joe, we never had a doubt,” Biden said of Manchin.

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