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“My Holiday horror story is that every year I am reminded that my family doesn’t want me and I don’t have any friends. I wish the world wouldn’t stop for eight weeks every year and I could just be in peace.” Oh and there’s more. [City Room/NYT]
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The IRA is law
President Biden on Tuesday signed into law the Inflation Reduction Act, an ambitious measure that aims to tamp down on inflation, lower prescription drug prices, tackle climate change, reduce the deficit and impose a minimum tax on profits of the largest corporations. …
Biden said signing the bill into law was something he had looked forward to doing for 18 months. At one point, he glanced at Manchin and quipped, “Joe, I never had a doubt,” to some laughter. After Biden inked his signature — and Schumer proclaimed, “It’s now law!” — the president handed the pen he used to Manchin and shook his hand.
House passes Inflation Reduction Act, which Biden will sign into law next week
House Democrats on Friday approved a sprawling bill to lower prescription drug costs, address global warming, raise taxes on some billion-dollar corporations and reduce the federal deficit, sending to President Biden the long-delayed, last component of his economic agenda in time for this year’s elections.
The 220-207 vote marked the culmination of roughly a year and a half of debate that at times pitted the party’s lawmakers against each other, revealing Democrats’ fierce ideological divides. In the end, though, the often-fractious caucus banded together to overcome unanimous Republican opposition, adopting a measure to improve Americans’ finances originally premised on Biden’s 2020 campaign pledge to “build back better.”
