WASHINGTON — President Biden signed the Inflation Reduction Act into law Tuesday.
Not everyone is happy with this signing, though. Senator Todd Young Tweeted, “This bill does not live up to its name, despite what Democrats want Americans to believe.” He included a link to an AP News article that expressed doubts about how successful this bill will actually be in regard to lowering inflation.
During his pre-signing speech, Biden made a point of saying that “every single Republican in Congress” voted against the bill. He gave credit to the Democratic Party for responding to the needs of the American people. He also gave a shout-out to the CHIPS and Science Act, which Senator Young has long supported.
The Inflation Reduction Act has been a success for Biden’s administration, which has struggled to deliver on many of its original promises. The bill addresses topics like climate change, prescription drug costs and energy prices. It also encourages American production of energy-efficient products, and incentivizes the use of these products.