Less than three months before the midterm elections, President Joe Biden plans to sign the Democrats’ expansive climate, health, and tax measure into law on Tuesday at the White House. This will be a significant victory for his domestic agenda.
This piece of legislation would cap the cost of prescription drugs for Medicare beneficiaries at $2,000 per year in out-of-pocket expenses and would feature the largest federal investment in history in the battle against climate change, totaling $375 billion over a ten-year period. It would also continue subsidies offered during the coronavirus outbreak, aiding an estimated 13 million Americans in paying for health insurance.
The President will conduct a Cabinet meeting focused on executing the Inflation Reduction Act, travel the nation to highlight how the law will benefit the American people, and host an event to commemorate the bill’s passing at the White House on September 6th according to a White House advisor.
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