Biden signs $473 billion Inflation Reduction Act – including $369 billion for ‘aggressive’ climate action, taxes on the rich and healthcare – and jokes with Manchin it was ‘never in doubt’: Republicans say it will do nothing to help reduce costs
- Biden has been vacationing at private home in tony Kiawah Island, S.C.
- He returns to the White House Tuesday afternoon for bill signing
- He then immediately turns around and flies to his Wilmington, Del. home
- Event is in the State Dining Room
- The bill establishes new 15% corporate minimum tax, sets 1% excise tax on stock buybacks
- Clean energy funds for electric cars and other programs
- Estimated to reduce the deficit by $300 billion
- It narrowly passed the House and Senate without any Republican votes