{"id":145798,"date":"2022-08-16T18:43:33","date_gmt":"2022-08-17T01:43:33","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=145798"},"modified":"2022-08-16T18:43:33","modified_gmt":"2022-08-17T01:43:33","slug":"president-biden-at-signing-of-the-inflation-reduction-act-of-2022","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=145798","title":{"rendered":"President Biden At Signing of, &#8220;The Inflation Reduction Act&#8221; of 2022"},"content":{"rendered":"<p>Washington, DC&#8230;Thank you, Majority Leader Schumer.  Chuck, you\u2019ve been a good friend a long, long time. And, Joe, I never had a doubt.  (Laughter.)  Joe had an operation on his shoulder.  I just want you to know it wasn\u2019t because of anything we did.  (Laughter.)  He\u2019s in great shape.<\/p>\n<p><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/3VWauAOR-gw\" title=\"President Biden Delivers Remarks and Signs Into Law H.R. 5376, The Inflation Reduction Act of 2022\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>And our Whip, Mr. Clyburn, you\u2019re \u2014 you\u2019re amazing.  And I am reminded often by my staff: Were it not for you \u2014 your wife telling you to endorse me \u2014 (laughter) \u2014 I wouldn\u2019t be standing here.  But thank you very, very much.<\/p>\n<p>And also Congresswoman Castor and my good friend Frank Pallone \u2014 Congressman Pallone \u2014 thank you for your leadership.<\/p>\n<p>You know, while they couldn\u2019t be here, I especially want to thank Nancy Pelosi, who was instrumental in this law, and Vice President Harris for her incredible work she did. <\/p>\n<p>And I\u2019m about to sign the Inflation Reduction Act into law, one of the most significant laws in our history.  Let me say from the start: With this law, the American people won and the special interests lost.  The American people won and the special interests lost.<\/p>\n<p>We\u2019re in a session of \u2014 for a while, people doubted whether any of that was going to happen.  But we are in a season of substance.  This administration began amid a dark time in America \u2014 as Jim said, \u201ca once-in-a-century pandemic\u201d \u2014 devastating joblessness, clear and present threats to democracy and the rule of law, doubts about America\u2019s future itself. <\/p>\n<p>And yet, we\u2019ve not wavered.  We\u2019ve not flinched.  And we\u2019ve not given in.  Instead, we\u2019re delivering results for the American people.  We didn\u2019t tear down; we built up.  We didn\u2019t look back; we looked forward.<\/p>\n<p>And today \u2014 today offers further proof that the soul of America is vibrant, the future of America is bright, and the promise of America is real and just beginning.  (Applause.)<\/p>\n<p>Look, the bill I\u2019m about to sign is not just about today, it\u2019s about tomorrow.  It\u2019s about delivering progress and prosperity to American families.<\/p>\n<p>It\u2019s about showing the American and the American people that democracy still works in America \u2014 notwithstanding all the \u2014 all the talk of its demise \u2014 not just for the privileged few, but for all of us.<\/p>\n<p>You know, I swore an oath of office to you and to God to faithfully execute the duties of this sacred office.<\/p>\n<p>To me, the critical duty \u2014 the critical duty of the presidency is to defend what is best about America.  And that\u2019s not hyperbole.  Defend what\u2019s best about America.  To pursue justice, to ensure fairness, and to deliver results that create possibilities \u2014 possibilities that all of us \u2014 all of us can live a life of consequence and prosperity in a nation that\u2019s safe and secure.  That\u2019s the job. <\/p>\n<p>Fulfilling that pledge to you guides me every single hour of every single day in this job. <\/p>\n<p>You know, presidents should be judged not only by our words, but by our deeds; not by our rhetoric, but by our actions; not by our promise, but by reality. <\/p>\n<p>And today is part of an extraordinary story that\u2019s being written by this administration and our brave allies in the Congress.<\/p>\n<p>This law \u2014 this law that I\u2019m about to sign finally delivers on a promise that Washington has made for decades to the American people. <\/p>\n<p>I got here as a 29-year-old kid.  We were promising to make sure that Medicare would have the power to negotiate lower drug prices back then \u2014 back then \u2014 prescription drug prices. <\/p>\n<p>But guess what?  We\u2019re giving Medicare the power to negotiate those prices now, on some drugs.<\/p>\n<p>This means seniors are going to pay less for their prescription drugs while we\u2019re changing circumstances for people on Medicare by putting a cap \u2014 a cap of a maximum of $2,000 a year on their prescription drug costs, no matter what the reason for those prescriptions are.<\/p>\n<p>That means if you\u2019re on Medicare, you\u2019ll never have to pay more than $2,000 a year no matter how many prescriptions you have, whether it\u2019s for cancer or any other disease.  No more than $2,000 a year.<\/p>\n<p>And you all know it because a lot of you come from families that need this.  This is a Godsend.  This is a Godsend to many families and so, so long overdue. <\/p>\n<p>The Inflation Reduction Act locks in place lower healthcare premiums for millions of families who get their coverage under the Affordable Care Act. <\/p>\n<p>Last year, a family of four saved on average $2,400 through the American Rescue Plan that I signed into law that Congress voted in place.<\/p>\n<p>In the years ahead, thanks to the Inflation Reduction Act, 13 million people are going to continue \u2014 continue to save an average of $800 a year on health insurance.<\/p>\n<p>The Inflation Reduction Act invests $369 billion to take the most aggressive action ever \u2014 ever, ever, ever \u2014 in confronting the climate crisis and strengthening our economic \u2014 our energy security.<\/p>\n<p>It\u2019s going to offer working families thousands of dollars in savings by providing them rebates to buy new and efficient appliances, weatherize their homes, get tax credit for purchasing heat pumps and rooftop solar, electric stoves, ovens, dryers.<\/p>\n<p>     It gives consumers a tax credit to buy electric vehicles or fuel cell vehicles, new or used.  And it gives them a credit \u2014 a tax credit of up to $7,500 if those vehicles were made in America. <\/p>\n<p>American auto companies, along with American labor, are committing their treasure and their talent \u2014 billions of dollars in investment \u2014 to make electric vehicles and battery and electric charging stations all across America, made in America.  All of it made in America.<\/p>\n<p>This new law also provides tax credits that\u2019s going to create tens of thousands of good-paying jobs and clean energy manufacturing jobs, solar factories in the Midwest and the South, wind farms across the plains and off our shores, clean hydrogen projects and more \u2014 all across America, every part of America.<\/p>\n<p>This bill is the biggest step forward on climate ever \u2014 ever \u2014 and it\u2019s going to allow \u2014 it\u2019s going to allow us to boldly take additional steps toward meeting all of my climate goals \u2014 the ones we set out when we ran.<\/p>\n<p>It includes ensuring that we create clean energy opportunities in frontline and fence-line communities that have been smothered \u2014 smothered by the legacy of pollution, and fight environmental injustice that\u2019s been going on for so long.<\/p>\n<p>And here\u2019s another win for the American people: In addition \u2014 in addition to cutting the deficit by $350 billion last year, in my first year in office, and cutting it $1.7 trillion this year, this fiscal year, we\u2019re going to cut the deficit \u2014 I point out \u2014 by another $300 billion with the Inflation Reduction Act over the next decade.<\/p>\n<p>We\u2019re cutting deficit to fight inflation by having the wealthy and big corporations finally begin to pay part of their fair share.<\/p>\n<p>Big corporations will now pay a minimum 15 percent tax instead of us \u2014 five- \u2014 55 of them got away with paying zero dollars in federal income tax on $40 billion in profit.<\/p>\n<p>     And I\u2019m keeping my campaign commitment: No one \u2014 let me emphasize \u2014 no one earning less than $400,000 a year will pay a penny more in federal taxes.  (Applause.)<\/p>\n<p>Folks, the Inflation Reduction Act does so many things that, for so many years, so many of us have fought to make happen.<\/p>\n<p>And let\u2019s be clear: In this historic moment, Democrats sided with the American people, and every single Republican in the Congress sided with the special interests in this vote \u2014 every single one.<\/p>\n<p>In fact, the big trun [sic] com- \u2014 big drug companies spent nearly $100 million to defeat this bill.  A hundred million dollars.<\/p>\n<p>And remember: Every single Republican in Congress voted against this bill. <\/p>\n<p>Every single Republican in Congress voted against lowering prescription drug prices, against lowering healthcare costs, against a fairer tax system.<\/p>\n<p>Every single Republican \u2014 every single one \u2014 voted against tackling the climate crisis, against lowering our energy costs, against creating good-paying jobs.<\/p>\n<p>My fellow Americans, that\u2019s the choice we face: We can protect the already-powerful or show the courage to build a future where everybody has an even shot.<\/p>\n<p>That\u2019s the America I believe in.  (Applause.)  That\u2019s what I believe in.<\/p>\n<p>And today \u2014 and today, we\u2019ve come a step closer to making that America real.<\/p>\n<p>Today, too often we confuse noise with substance.  Too often we confuse setbacks with defeat.  Too often we hand the biggest microphone to the critics and the cynics who delight in declaring failure while those committed to making real progress do the hard work of governing.<\/p>\n<p>Making progress in this country is a \u2014 as big and complicated as ours clearly is not easy.  It\u2019s never been easy.<\/p>\n<p>But with unwavering conviction, commitment, and patience, progress does come.<\/p>\n<p>Your dad was right. <\/p>\n<p>And when it does, like today, people\u2019s lives are made better and the future becomes brighter, and a nation can be transformed.<\/p>\n<p>That\u2019s what\u2019s happening now.  From the American Rescue Plan that helped create nearly 10 million new jobs, to a once-in-a-generation infrastructure law that will rebuild America\u2019s roads, bridges, ports; deliver clean water, high-speed Internet to every American; to the first meaningful gun safety law in 30 years \u2014 and if I have anything to do with it, we\u2019re still going to have an assault weapons ban, but that\u2019s another story.  And to get significant veterans\u2019 healthcare law in decades, for the first time; to a groundbreaking CHIPS and Science Law that\u2019s going to ensure that technologies and jobs of the future are made here in America \u2014 in America.  (Applause.)<\/p>\n<p>     And all this progress is part of our vision and plan and determined effort to get the job done for the American people, so they can look their child in the eye and say, \u201cHoney, it\u2019s going to be okay.  Everything is going to be okay.\u201d<\/p>\n<p>     Everything is going to make sure that democracy delivers for your generation.  Because I think that\u2019s at stake.<\/p>\n<p>     And, now, I know there are those here today who hold a dark and despairing view of this country.  I\u2019m not one of them.<\/p>\n<p>     I believe in the promise of America.  I believe in the future of this country.  I believe in the very soul of this nation.  And most of all, I believe in you, the American people.<\/p>\n<p>I believe to my core there isn\u2019t a single thing this country cannot do when we put our mind to it.  We just have to remember who we are.  We are the United States of America.<\/p>\n<p>There is nothing beyond our \u2014 nothing beyond our capacity.  That\u2019s why so many foreign companies decided to invest their \u2014 make chips in America.  Billions of dollars.  We\u2019re the best.  We have to believe in ourselves again.<\/p>\n<p>     And now I\u2019m going to take action that I\u2019ve been looking forward to doing for 18 months.  (Laughter and applause.)  I\u2019m going to sign the Inflation Reduction Law.  (Applause.)<\/p>\n<p>     Okay.  Here you go.<\/p>\n<p>     (The bill is signed.)<\/p>\n<p>     LEADER SCHUMER:  It\u2019s now law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington, DC&#8230;Thank you, Majority Leader Schumer. Chuck, you\u2019ve been a good friend a long, long time. And, Joe, I never had a doubt. (Laughter.) Joe had an operation on his shoulder. I just want you to know it wasn\u2019t because of anything we did. (Laughter.) He\u2019s in great shape. And our Whip, Mr. Clyburn, you\u2019re [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":145799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20,5,1],"tags":[],"class_list":["post-145798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2022\/08\/Fullscreen-capture-8162022-64222-PM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/145798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=145798"}],"version-history":[{"count":1,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/145798\/revisions"}],"predecessor-version":[{"id":145800,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/145798\/revisions\/145800"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/145799"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=145798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=145798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=145798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}