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Saturday, August 13, 2022

House Delivers Biden Victory, and a Bet on America’s Future

Congress gave final approval to the Inflation Reduction Act, which will lower the cost of prescription drugs, extend health care subsidies and invest billions into climate and energy programs.

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House Democrats overcame Republican opposition to pass legislation that would cut prescription drug costs and invest billions in efforts to combat global warming.Anna Rose Layden for The New York Times

WASHINGTON — He promised a new social safety net. He pledged to develop a robust plan to fight global warming. He vowed to reduce the gap between rich and poor by making the wealthy “pay their fair share.”

And along the way, Joseph R. Biden Jr. often said as he battled Donald J. Trump for the White House in 2020, he would prove that democracy still works in America.

With final House passage of the Inflation Reduction Act on Friday, President Biden is poised to deliver the latest in a series of legislative victories that will ripple across the country for decades — lowering the cost of prescription drugs, extending subsidies to help people pay for health insurance, reducing the deficit and investing more than $370 billion into climate and energy programs.

“The choice we face as Americans is whether to protect the already-powerful or find the courage to build a future where everybody has a shot,” Mr. Biden said on Twitter. “Today, I proudly watched as House Democrats chose families over special interests.”

Even with the latest legislative triumph, the president’s accomplishments on Capitol Hill fall far short of the scale and ambition of F.D.R.’s New Deal or Lyndon B. Johnson’s Great Society. And passage of Friday’s bill may say less about Mr. Biden’s ability to restore American bipartisanship than it does about the deep ideological breaches in his own party, which forced him to accept a much scaled-back version of his original legislative goals.

But taken together, the bills Mr. Biden has helped usher through a closely divided Congress since taking office 18 months ago touch many parts of American society.

There will be a vast new pot of money to combat climate change. Medicare will be free to negotiate for lower drug prices. The government will invest billions to help computer chip makers compete. Health care subsidies will be extended for years. Lead pipes will be replaced. Broadband internet will be built in poor and rural communities. Roads, bridges and tunnels will be restored. New gun safety measures will go into effect and background checks will be expanded. The nation’s budget deficit will be reduced.

To pay for some of it, investors will send more of their profits to the government, with a new tax on company stock buybacks and a 15 percent corporate minimum tax for wealthy companies.

Republicans immediately assailed passage of Friday’s bill.

“Can’t believe this has to be said again, but raising taxes during a recession is NOT a good idea,” Representative Jim Jordan, Republican of Ohio, said on Twitter moments after the bill had enough Democratic votes for passage.

Since taking office, Mr. Biden has already signed a $1.9 trillion pandemic rescue plan, a $1 trillion infrastructure measure, a $280 billion chip manufacturing bill and bipartisan gun legislation intended to prevent dangerous people from accessing firearms. Along with Friday’s bill, the legislation passed thus far will most likely end up as the centerpiece of his legacy as the nation’s 46th president.

The bills Mr. Biden has helped usher through a closely divided Congress since taking office 18 months ago touch many parts of American society.
Pete Marovich for The New York Times

“It’s still consistent with what the president has always done which is keep his head down and do the necessary work,” said Cedric Richmond, a senior official at the Democratic National Committee who served as a senior adviser for Mr. Biden. “Families were feeling the effects of higher costs and the president wanted to keep his head down and address it. That until now has been the focus.”

The challenge now for Mr. Biden and his administration is to convince the American people of that after more than a year of griping and political hand-wringing among some in the Democratic Party.

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