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Biden signs massive climate and health care legislation

Joe Biden
Susan Walsh/AP
/
AP
President Joe Biden signs the Democrats' landmark climate change and health care bill in the State Dining Room of the White House in Washington, Tuesday, Aug. 16, 2022. (AP Photo/Susan Walsh)

WASHINGTON (AP) — President Joe Biden has signed Democrats’ landmark climate change and health care bill.

It's the “final piece” of the president's pared-down domestic agenda as he aims to boost his party’s standing with voters ahead of midterm elections.

The legislation includes the biggest federal investment ever to fight climate change — some $375 billion over a decade.

It also caps prescription drug costs at $2,000 out-of-pocket annually for Medicare recipients, and helps an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic.

The measure is paid for in part by new taxes on large companies.