2022-08-18 18:53:38

Biden Signs Inflation Reduction Act Into Law

Joe Biden signed the Inflation Reduction Act into law earlier this week in what was yet another legislative accomplishment by the president and the Democratic Party. The bill passed the US Senate earlier this month with Kamala Harris casting the tie-breaking vote before passing the House by another slim 220 to 207 margin and eventually getting to Biden's desk. The package will cost around $430 billion but is expected to reduce the deficit by over $300 billion and raise $737 billion in revenue over ten years. The new law includes a $369 billion investment for climate and energy policies and $64 billion for extending the Affordable Care Act and reducing health insurance costs. There is also a 15% corporate minimum tax being instituted for large companies and a 1% tax on stock buybacks. Finally, the bill will reduce drug prices for Medicare recipients and cap their out-of-pocket yearly costs at $2,000. Although the legislation doesn't go nearly as far as the original Build Back Better plan, this is still a major win for Democrats who need to make the case to voters to reelect them in November.

 

The David Pakman Show is a news and political talk program, known for its controversial interviews with political and religious extremists, liberal and conservative politicians, and other guests.

Missed an episode?  Check out David Pakman on our Youtube Channel  anytime or visit the show page for the latest clips.

#FreeSpeechTV is one of the last standing national, independent news networks committed to advancing progressive social change. 

#FSTV is available on Dish, DirectTV, AppleTV, Roku, Sling and online at freespeech.org 

#davidpakmanshow $430 billion Affordable Care Act Build Back Better Plan inflation reduction act Joe Biden Kamala Harri Kamala Harris US Senate

Politics

The David Pakman Show

BREAKING: US Embassy Warns Americans to Leave Russia

BREAKING: US Embassy Warns Americans to Leave Russia

The David Pakman Show

Trump Thought He Could Sue Congress for Impeaching Him

Trump Thought He Could Sue Congress for Impeaching Him

The David Pakman Show

FLORIDA DISASTER: Hundreds Dead, 2.7 Million Without Power

FLORIDA DISASTER: Hundreds Dead, 2.7 Million Without Power

Just Solutions

Don't Miss Just Solutions TONIGHT on FSTV!!

Don't Miss Just Solutions TONIGHT on FSTV!!

Related

The David Pakman Show

BREAKING: US Embassy Warns Americans to Leave Russia

BREAKING: US Embassy Warns Americans to Leave Russia

The David Pakman Show

FLORIDA DISASTER: Hundreds Dead, 2.7 Million Without Power

FLORIDA DISASTER: Hundreds Dead, 2.7 Million Without Power

The David Pakman Show

CIVIL WAR: Ron DeSantis Privately Calling Trump a "Moron"

CIVIL WAR: Ron DeSantis Privately Calling Trump a "Moron"

The David Pakman Show

COLLAPSE: Investors Pull $140 Million from Trump's Truth Social

COLLAPSE: Investors Pull $140 Million from Trump's Truth Social

Proud Partners