President to sign health, climate bill Tuesday
President Biden will sign into law the sweeping climate, health care and tax legislation that has been Democrats’ priority for more than a year during a ceremony at the White House on Tuesday.
The signing will represent a major milestone for Biden and his domestic economic agenda.
Drug pricing milestone: With the signing, Medicare will for the first time be able to negotiate lower prices for some drugs — though the lower prices do not go into effect until 2026.
- “This historic bill will lower the cost of energy, prescription drugs, and other health care for American families, combat the climate crisis, reduce the deficit, and make the largest corporations pay their fair share of taxes,” a White House advisory said.
- “In the coming weeks, the President will host a Cabinet meeting focused on implementing the Inflation Reduction Act, will travel across the country to highlight how the bill will help the American people, and will host an event to celebrate the enactment of the bill at the White House on September 6th,” it added.
The legislation, called the Inflation Reduction Act, passed the House in a party-line vote Friday, about a week after passing the Senate with only Democratic votes through a process known as budget reconciliation. Vice President Harris cast the tie-breaking vote.
Sales pitch: Biden administration officials are preparing to traverse the country to promote the bill in the coming weeks, making the case to voters that Democrats can deliver on their promises in the critical three months before the November midterm elections.
