EDT
12:00 PM President Biden delivers remarks on the Inflation Reduction Act of 2022
The aim of the Inflation Reduction Act, according to Senators and Manchin and Schumer is to “fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40% by 2030.”
President Biden said that “with this agreement, we have a chance to make prescription drugs cheaper by allowing Medicare to negotiate lower prices and we can lower health insurance costs for 13 million Americans, by an average of $800 a year, for families covered under the Affordable Care Act.”