Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else.
Thank you. Please check your inbox to confirm.
Leave your feedback
President Joe Biden hosted a roundtable with business leaders Thursday to push for congressional passage of the Democrats’ Inflation Reduction Act.
Watch Biden’s remarks in the player above.
Appearing at the event virtually along with leaders from General Motors, Cummins, Kaiser Permanente and the AFL-CIO, among other organizations, Biden said the “$739 billion package can help lower inflation, cut the budget deficit, address climate change and lower medical bills” — a message that he’s trying to sell to the wider country amid fierce Republican criticism.
“They’re all here because they believe that the Inflation Reduction Act meets the needs of working families now, and what our economy needs now for stronger, sustained economic growth in the years ahead,” Biden said.
Biden said the bill will “save the American people and Medicare hundreds of billions of dollars,” while also making the “largest investment ever in clean energy and in American energy security.”
He also said it will reduce the deficit by hundreds of billions of dollars and insisted the American people are behind his bill.
READ MORE: Democrats’ economic package poised for passage but still faces obstacles
The president called on Congress to listen to the public, dig into the numbers and vote for the legislation.
“Look at the facts,” Biden said. “Pass it. Get it to my desk. Pass it for the American people. Pass it for businesses and workers. Pass it for America.”
But Republican lawmakers argue the 15 percent minimum corporate tax included in the package will hit U.S. factories and middle-class workers.
They say energy costs will increase, while innovations in health care would decline because of price caps on prescription drugs.
With no Republican support as of yet, the agreement still needs backing from Sen. Kyrsten Sinema, D-Ariz., to pass an evenly split Senate in which Vice President Kamala Harris is the tiebreaker.
Support Provided By:
Additional Support Provided By: