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Biden to sign major health, climate and tax bill Tuesday at White House ceremony

Chip Somodevilla/Getty Images

(WASHINGTON) — President Joe Biden plans to sign the Democrats’ massive climate, health and tax bill into law on Tuesday at the White House, marking a major accomplishment for his domestic agenda less than three months before midterm elections.

Biden will deliver remarks and sign the bill, known as the Inflation Reduction Act, at an event in the White House’s State Dining Room, the White House announced Monday.

It will likely be a smaller ceremony, with most members of Congress involved in the bill’s passage out of town, with Congress out of session.

Taking advantage of some political momentum, Biden is interrupting his vacation in South Carolina for the signing, just days after the House approved the measure, following Senate passage by just one vote amid some political drama.

A larger celebration is being planned for Sept. 6.

The White House also said that, “in the coming weeks,” Biden will host a Cabinet meeting focused on implementing the new law and will also travel across the U.S. to promote it.

The Biden administration has planned a cross-country rollout campaign for the legislation, which aims to make prescription drugs and health insurance cheaper; invest in clean energy and curb climate change; raise taxes on the wealthy; and cut the deficit.

Starting this week through the end of August, Cabinet members plan to travel to 23 states, on more than 35 trips, to tout the “Inflation Reduction Act,” according to the White House.

The administration also plans to roll out information online and on social media about the legislation’s impact, and to collaborate with members of Congress to host hundreds of events, the White House said.

The blitz will highlight will highlight other major legislative wins as well as part of a “Building a Better America Tour.”

In a memo the White House made public from Senior Adviser Anita Dunn and Deputy Chief of Staff Jen O’Malley Dillon to Chief of Staff Ron Klain, the administration plans to not only tout passage of the IRA, but also the CHIPS Act aimed at boosting the U.S. semi-conductor industry over China’s and easing a pandemic-cause shortage, the bipartisan gun control bill and the bipartisan infrastructure bill.

Ahead of Tuesday’s signing, the White House on Monday put out what it said would be the IRA’s impact.

According to the White House, about 1.4 million Americans who are on Medicare who usually spending more than $2000 per year on prescription drugs will see their costs capped at that amount. Overall, it says, there are about 50 million Americans on Medicare Part D who are eligible for that cost cap.

The White House said. there are about 3.3 million Americans on Medicare who use insulin, who will benefit from the new $35 monthly price cap.

The White House also estimates about 5-7 million Americans could see their prescription drug costs decrease once Medicare begins negotiating costs.

Lower Obamacare premiums will be extended for the 13 million Americans insured under that program, the White House said.

And the White House also claims greenhouse gas emissions will be reduced by a billion metric tons in 2030 thanks to the IRA.

ABC News’ Sarah Kolinovsky and Justin Gomez contributed to this report.

Copyright © 2022, ABC Audio. All rights reserved.

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