Biden Signs Inflation Reduction Act -- Largest Climate Investment in History (2022-08-16)

President Biden signs the Inflation Reduction Act, the largest climate investment in US history -- $369 billion for clean energy, electric vehicle tax credits, and environmental justice. The bill also caps insulin prices at $35 for Medicare beneficiaries, allows Medicare to negotiate drug prices, and invests $80 billion in IRS enforcement. It passes along party lines via reconciliation. The legislation represents the most significant federal climate action ever taken, contrasting with Trump's withdrawal from the Paris Agreement and systematic environmental deregulation.