Biden signs 'Inflation Reduction' bill 2022 to cut recession

Biden signs 'Inflation Reduction' bill 2022 to cut recession

Biden signs ‘Inflation Reduction’ bill 2022 to cut recession

Finally, US President Joe Biden has signed a bill of a huge amount of 70 thousand billion US dollars to overcome the economic recession. BBC news.

President Joe Biden signed a historic bill of about 37 billion US dollars at the White House on Monday to combat the economic recession. He signed the bill into law.

Through this, the ‘Reduction of Inflation’ Bill 2022 became law.

As the bill becomes law, this massive amount of state funding will be used for climate change prevention, energy security and health care.

In an immediate reaction after signing the bill, Biden called it a victory for the American people.

Biden signs 'Inflation Reduction' bill 2022 to cut recession

Before this, after various dramas, this huge bill was passed in the Senate and the House of Representatives of the US Congress. While the bill easily passed the House with a majority, the bill faced intense debate in the Senate. In a 50-50 tie, Vice President Kamala Harris finally passed the historic bill.

Meanwhile, Democrats say the new US economy will bring major changes. At the same time, US President Joe Biden also believes that it will give Democrats a special advantage in retaining control of Congress in this year’s midterm elections.