Biden Signs Bill Aimed at Lowering Drug Costs, Boosting Renewable Energy

WASHINGTON—President Biden signed into legislation sweeping legislation to decrease prescription drug costs, enhance the renewable power sector and impose new taxes on massive companies.

The Democrat-backed bundle is one in every of Mr. Biden’s most consequential accomplishments since taking workplace, the newest in a string of legislative victories that the president’s aides hope will improve his standing heading into November’s midterm election. Republicans have criticized the measure, casting it as authorities overreach and arguing that it would do little to tamp down high inflation, regardless of its identify, the Inflation Reduction Act.