President Joe Biden made a scathing attack on big drug manufacturers and Republican lawmakers for fighting tooth and nail to scuttle the Inflation Reduction Act.
"Big drug companies spent nearly $100 million to defeat this bill. And remember: Every single Republican in Congress voted against this bill," Biden said while delivering remarks ahead of signing the sweeping $739 billion bill into law.
"Every single Republican in Congress voted against lowering prescription drug prices, against lowering healthcare costs, against a fairer tax system. Every single Republican voted against tackling the climate crisis, against lowering our energy costs, against creating good-paying jobs," he said at the signing ceremony held in the State Dining Room on Tuesday.
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Political News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.