On Tuesday, President Joe Biden signed the Democrats’ landmark climate change and health care bills, which he called the “final piece” of his pared-down domestic agenda, as he aims to boost his party’s standing with voters in less than three months before the midterm elections.

The legislation includes the largest federal investment to combat climate change in history — about $375 billion over a decade — and caps Medicare recipients’ out-of-pocket costs for prescription drugs to $2,000 a year. Expanding subsidies provided during the coronavirus pandemic will also help some 13 million Americans pay for Medicare.

The measure is paid for by new taxes on large corporations and increased IRS enforcement of wealthy individuals and entities, with additional funding to reduce the federal deficit.

In a victory signing event at the White House, Biden pointed to the law as proof that democracy — no matter how long or chaotic the process — can still benefit American voters, as he criticized an A he might repeat later. The rules in the row were road-tested ahead of the midterm elections: “The American people win, special interests lose.”

The House passed the measure by a vote of 220 to 207 on Friday. It passed the Senate a few days ago, with Vice President Kamala Harris breaking a 50-50 tie.

Biden signed the bill into law in a small ceremony in the White House State Dining Room, between his return from a six-day seaside vacation in South Carolina and his departure from his home in Wilmington, Delaware. Once the lawmaker returns to Washington, he plans to hold a larger legislative “celebration” on September 6.

Backed by Biden, Democrats hope a string of successes will increase their chances of maintaining control of Washington until mid-November. The 79-year-old President intends to restore his standing with voters as he considers re-election.

The White House announced Monday that it would send Biden and Cabinet members on a “Building a Better America tour” to promote the recent victory. One of Biden’s trips will be to Ohio, where he will witness the groundbreaking of a semiconductor factory that will benefit from the latest laws supporting the production of such computer chips. He will also stop in Pennsylvania to promote his administration’s plan for safer communities, which was planned the same day he tested positive for COVID-19 last month.

Biden also plans to hold a cabinet meeting to discuss how to implement new climate and health care laws.
Republicans say the legislation’s new sales tax will push up prices, fuelling the country’s highest inflation rate since 1981. While Democrats called the measure the “Reduction in Inflation Act,” nonpartisan analysts said its impact on prices would be barely noticeable.

The measure is a stripped-down version of a more ambitious plan to strengthen environmental and social programs unveiled by Biden and his party early last year.

Although the law is far smaller than their original ambitions, Biden and Democrats have hailed the legislation as a once-in-a-lifetime investment in tackling the long-term effects of climate change and drought in the American West.
The bill will direct spending, tax credits and loans to support technologies such as solar panels, consumer efforts to improve home energy efficiency, equipment to reduce emissions from coal and gas-fired power plants, and air conditioning on farms, ports and lowlands.

Another $64 billion will help 13 million people pay premiums for privately purchased health insurance under the Affordable Care Act over the next three years. Medicare will gain the power to negotiate the cost of drugs, initially with just ten drugs by 2026. Out-of-pocket prescriptions for Medicare beneficiaries will be capped at $2,000 a year starting in 2025, and insulin, a costly diabetes drug, will cost no more than $35 a month starting next year.