Watch: Biden marks first anniversary of Inflation Reduction Act

Holly Patrick
Wednesday 16 August 2023 14:36 EDT

Watch as Joe Biden marked the first anniversary of the Inflation Reduction Act on Wednesday, 16 August.

The US president commemorated the signing of his signature clean energy legislation by leading a campaign to better explain to Americans what it does.

According to a poll by the Washington Post-University of Maryland released on Monday, only 27 per cent of Americans said they know a great deal or a good amount about the legislation.

The bill provides billions of dollars in tax credits to help consumers buy electric vehicles and companies produce renewable energy.

It also helps elderly people pay for prescription drugs and expands some elements of Obamacare.

Today, Mr Biden spoke on the bill at the White House in front of lawmakers who helped pass the legislation twelve months ago.

Last week, Mr Biden said he regrets the name of the bill "because it has less to do with reducing inflation than it has to do with providing alternatives that generate economic growth."

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