On Tuesday, President Joe Biden will sign the landmark bill on climate change and health care, a step towards boosting his party’s standing in the polls less than three months before the midterm November elections, delivering the “final piece” of his pared-down domestic agenda. As part of the legislation, the federal government will invest $375 billion to fight climate change over the next decade, and Medicare recipients will be capped at $2,000 out-of-pocket per year for prescription drugs.
Biden will sign the Democratic landmark health care and climate change bill. Biden called the bill the final piece of his domestic agenda. The president intends to boost the standing of his party with voters before the upcoming November midterm elections.#ClimateCrisis #Midterms pic.twitter.com/YRj611d4Bh
— Live News Now (@LiveNewsNow6) August 16, 2022
It would also provide subsidies to an estimated thirteen million Americans who lost their health insurance during the COVID-19 pandemic. In addition to taxing big corporations and stepping up IRS enforcement on wealthy individuals and companies, the measure will reduce the federal deficit by additional funds. Earlier this week, the House passed the measure on a party-line vote of 220-207. In the Senate, Vice President Kamala Harris broke a 50-50 tie by passing it days earlier.
Larger Celebration for the Legislation on 6th September
Additionally, the U.S. president will sign the bill during an official ceremony at the White House. However, Biden plans to hold a more significant celebration for the bill on 6th September once representatives return to Washington. The president’s signing caps a spurt of governmental productivity in law-making for the president himself and Congress, who in three months approved the bill on the benefits of veterans, gun checks for teen buyers, and the semiconductor industry.
President Biden and lawmakers responded to the Russian invasion of Ukraine and backed the North Atlantic Treaty Organization membership for Finland and Sweden. Furthermore, with the approval rating lagging of the president, Democratic representatives are hoping that the string of success will kickstart their prospects of maintaining control in the capital in the upcoming midterm elections this year.
On 15th August, the White House announced to deploy the president and Cabinet members on a Building a Better America Tour to promote the recent victories. Additionally, the White House stated that Biden would host a Cabinet meeting in the coming weeks intended to execute the Inflation Reduction Act. The president will also travel across the United States to highlight how the bill will help Americans.
On the other hand, GOP lawmakers say that the new business taxes of the legislation will fuel inflation to worse the bout of the nation with its highest value since 1981. However, nonpartisan analysts say that the bill will have a barely noticeable impact on prices. The $3.5 trillion proposal also envisaged free prekindergarten, paid family and medical leave, eased immigration restrictions, and extended Medicare benefits.