President Joe Biden signed a $430 billion climate spending bill on Tuesday, insisting on fighting inflation.
At the signing ceremony at the White House, Biden said, “We are cutting the gap to fight inflation, making sure that the rich and big companies finally pay their fair share.” Said.
The bill raises the corporate minimum tax to 15 percent and spends more money to strengthen the IRS’s ability to collect taxes.
Biden admitted he waited a long time to finally sign the bill, which began as the multi-trillion-dollar Better Than Program for Restructuring, before senators from his own party voted.
The bill spends $386 billion on green energy subsidies and tax credits and $98 billion on Medicare support.
As he approached the signing table, he said after his speech, “I will now take the action that I have been waiting for eighteen months.”
Despite early blocking the West Virginia senator’s proposals, the president defiantly handed his signature pen to Senator Joe Manchin (D-WV) and shook hands.
Biden promoted the bill as a huge hit and even indirectly criticized the media for its skepticism about passing his agenda. He said:
Nowadays, we often confuse noise with matter. We often confuse failure with defeat, often giving the highest mic to critics and cynics who want to voice their frustration as those seeking real progress are working hard to manage.
The president has sought to present his recent legislative achievements as “part of an extraordinary story” he built during the presidency of the Democrats in Washington, DC.
Pointing to the “election” the Americans will make in November, he boasted, “We are at an important time.”
In his speech, Biden falsely criticized “Trump’s big companies” for opposing the bill, but corrected himself by calling it “big pharma companies.”
“It proves that the spirit of America lives today,” he said.
Source: Breitbart
