Biden signs Democratic bill on tax, health care, climate

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Biden signs Democratic bill on tax, health care, climate

STORY: Biden signs Democratic bill on tax, health care, climate DATELINE: Aug. 18, 2022 LENGTH: 00:00:56 LOCATION: Washington D.C. CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of Biden signing the bill 2. various of exterior of the White House STORYLINE: U.S. President Joe Biden on Tuesday signed into law the Inflation Reduction Act, a scaled-down version of the massive "Build Back Better" package he and many Democrats envisioned last year. Touting it as a "historic bill," Biden said at the White House that it will lower costs for American families, combat the climate crisis, reduce the deficit, and finally make the largest corporations pay their fair share in taxes. The bill includes a roughly 400-billion-U.S.-dollar investment in fighting climate change, measures to make prescription drugs more affordable, and a 15-percent minimum tax on most corporations that make more than 1 billion dollars per year. The legislation would generate nearly 300 billion dollars of net revenue over a decade.

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