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White House celebrates the Inflation Reduction Act

Posted at 11:15 PM, Sep 13, 2022
and last updated 2022-09-14 02:15:24-04

WASHINGTON, D.C. (KERO) — Hundreds of people from across the country joined President Joe Biden as he celebrated the Inflation Reduction Act at the White House on Tuesday.

The expansive new law covers several major priorities for the president, including lowered prescription drug costs, reducing the federal deficit, addressing global warning, and raising taxes on corporations.

Biden and his fellow Democrats are working hard to keep Americans focused on the law ahead of the midterm elections, saying it cuts costs for families.

However, just ahead of Tuesday’s celebration, a new federal report showed prices stuck at higher levels. Consumer prices rose 8.3 percent in August when many economists predicted that prices would drop.