Biden Signs Inflation/Climate Bill, Gives Pen To Manchin

The Washington Post reports:

President Biden on Tuesday signed into law the Inflation Reduction Act, an ambitious measure that aims to tamp down on inflation, lower prescription drug prices, tackle climate change, reduce the deficit and impose a minimum tax on profits of the largest corporations.

At a bill signing ceremony in the State Dining Room of the White House, Biden 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.

Sen. Chuck Schumer personally thanked Sen. Joe Manchin “for working hard to get this done,” and credited Biden and the Democratic caucus for their persistence. The president, Schumer added, knew precisely when to step in and when to let negotiations play out.

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