Today, President Biden returned to Washington briefly to sign the Inflation Reduction Act, a sprawling bill that aims to lower prescription drug costs, address global warming, raise taxes on some billion-dollar corporations and reduce the federal deficit. A year and a half in the making, the legislation gives Democrats something else to tout heading into challenging midterm elections in November.
The president called the Inflation Reduction Act, “one of the most significant laws in our history” before signing the bill at a White House ceremony.
“Let me say from the start with this law, the American people won and the special interests lost,” he added.
Before Biden departed South Carolina, the White House announced that first lady Jill Biden has tested positive for the coronavirus.