Biden inks landmark climate crisis, health care bill into law

The $430 billion Inflation Reduction Act aims to cut domestic greenhouse gas emissions, lower drug costs and tax corporations.

"Every single Republican in Congress voted against this bill," says Biden. (AP)

President Joe Biden has signed into law a $430 billion bill that is seen as the biggest climate package in US history, designed to cut domestic greenhouse gas emissions as well as lower prescription drug prices.

Biden was joined by Democratic leaders including Senator Joe Manchin of West Virginia, whose support was crucial to the 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 on Tuesday at the White House.

Biden used the event to criticise Republicans as he sought to use a string of Democratic-led legislative victories to help boost Democrats in congressional midterm elections in November.

"In this historic moment, Democrats sided with the American people and every single Republican sided with the special interests," said Biden. 

"Every single Republican in Congress voted against this bill," he added.

READ MORE: US lawmakers pass massive climate, health bill in big win for Biden

[embed]https://www.youtube.com/watch?v=FHWSdHFxXl8[/embed]

"Democrats robbed Americans"

It will also allow Medicare to negotiate lower drug prices for the elderly and ensure that corporations and the wealthy pay the taxes they owe. 

Democrats say it will help combat inflation by reducing the federal deficit.

Senate Republican leader Mitch McConnell said the new law will have the opposite impact.

"Democrats robbed Americans last year by spending our economy into record inflation. This year, their solution is to do it a second time. The partisan bill President Biden signed into law today means higher taxes, higher energy bills, and aggressive IRS audits," he said, referring to the Internal Revenue Service.

READ MORE: Senate Democrats pass $740B 'Inflation Reduction Act' package in US

Source: Reuters

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