THEIR BELT TO CARRY THEM TO VICTORY IN NOVEMBER. >> TODAY, THE AMERICAN PEOPLE WON AND THE SPECIAL INTERESTS LOST FINALLY. >> Reporter: THIS MORNING, PRESIDENT BIDEN AND DEMOCRATS CAPPING OFF A WEEK OF WINS WITH THE PASSAGE OF THE INFLATION REDUCTION ACT. >> THE MOTION IS ADOPTED. >> Reporter: IT’S A VICTORY OVER A YEAR IN THE MAKING.
THAT SEEMED IMPOSSIBLE WEEKS AGO. THE CORE PIECE OF THE PRESIDENT’S LEGISLATIVE AGENDA BOASTING THE LARGEST EVER IN TACKLING CLIMATE CHANGE AND TAXING LARGE CORPORATIONS AND NEGOTIAING MEDICARE POWER.
>> HAIL TO THE CHIEF. JOE BIDEN BIDEN. HIS INSPIRATION MADE TODAY POSSIBLE.
>> Reporter: DEMOCRATS AIDING THIS TO A STREAK OF LEGISLATIVE VICTORIES. AS THEY FIGHT TO KEEP BOTH CONGRESSIONAL MAJORITIES AFTER THE NOVEMBER MIDTERMS. >> I FEEL BAD FOR THE REPUBLICANS IN A SENSE BECAUSE THEY HAVE TO GO HOME AND TELL SENIORS I VOTED NOT TO LOWER PRESCRIPTION DRUGS. I VOTED WITH BIG PHARMA. >> Reporter: WITH 12 WEEKS LEFT, REPUBLICANS ARE SEIZING ON THE NUMBER ONE CONCERN.
THE ECONOMY. >> NOT INFLATION REDUCTION ACT. IT IS A LOT OF BAD POLICY THAT FEELS GOOD, BUT WILL NOT DO GOOD AND NOT CURB INFLATION THE WAY THEY ARE MARKETING IT. >> Reporter: PRESIDENT BIDEN DEFENDING THE HARD FOUGHT VICTORY VOWING TO SIGN IT INTO LAW NEXT WEEK AND CELEBRATE WHEN CONGRESS RETURNS FROM RECESS IN SEPTEMBER. SO WHEN WILL THIS BILL ACTUALLY START TO REDUCE INFLATION?
ECONOMISTS SAY THE DENT WILL BE MODEST AND TAKE TIME AS SOME .
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