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President Barack Obama signed sweeping health care reform legislation into law Tuesday, capping a year long debate over the future of health insurance in the U.S.

"Today, after all the votes have been tallied, health insurance reform becomes law in the United States of America," Obama said before signing the bill.

Obama's remarks were met with numerous rounds of applause from the various members of Congress and reform advocates gathered in the White House's East Room.

The legislation, passed through the House late Sunday night with a 219-212 vote, was accompanied by a number of key amendments included in a reconciliation bill. The second bill will now go to the Senate, where the president expressed confidence that it will be addressed soon.

"While the Senate still has the last round of improvements to make on this historic legislation, these are improvements I'm sure they will make swiftly."

The president acknowledged that many in Congress took considerable risk by passing the bill.

"Yes we did," responded one individual in the crowd, an apparent play on Obama's signature motto from the campaign.