“Today offers further proof that the soul of America is vibrant, the future of America is bright and the promise of America is real and just beginning,” Biden said before the signing.
The $740 billion act lowers prescription drug prices, increases taxes on big corporations and invests in clean energy to fight climate change.
“Families desperately need us to tackle rising costs and rising temperatures,” Sen. Patty Murray said on the Senate floor before the vote. “Washington state has seen droughts and wildfires and floods and heat waves that literally made our roads buckle,” Murray said. Smiley said the Inflation Reduction Act represents out-of-control spending as the country heads into recession.
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