The signing caps a spurt of legislative productivity for Biden and Congress, who in three months have approved legislation on veterans’ benefits, the semiconductor industry and gun checks for…
By Zeke Miller and Seung Min Kim | Associated Press
In a triumphant signing event at the White House, Biden pointed to the law as proof that democracy — no matter how long or messy the process — can still deliver for voters in America as he road-tested a line he will likely repeat later this fall: “The American people won, and the special interests lost.”
The signing caps a spurt of legislative productivity for Biden and Congress, who in three months have approved legislation on veterans’ benefits, the semiconductor industry and gun checks for young buyers. The president and lawmakers have also responded to Russia’s invasion of Ukraine and overwhelmingly supported NATO membership for Sweden and Finland.
Republicans say the legislation’s new business taxes will increase prices, worsening the nation’s bout with its highest inflation since 1981. Though Democrats have labeled the measure the Inflation Reduction Act, nonpartisan analysts say it will have a barely perceptible impact on prices.
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