President Biden today signed into law H.R. 5376, the Inflation Reduction Act of 2022, also known as the reconciliation bill.

“The American people won and the special interests lost” in this bill, President Biden said at the ceremony.

Last week, Senate and House Democrats passed the bill with no Republican votes. The signing event was held in the State Dining Room at the White House.

“This historic bill will lower the cost of energy, prescription drugs, and other health care for American families, combat the climate crisis, reduce the deficit, and make the largest corporations pay their fair share of taxes,” the White House said in an announcement.

The bill also contains $40 billion for agricultural conservation, forestry, credit and rural development programs.

Earlier this week, Politico reported that the White House is planning an extensive August effort to promote the bill, including appearances by Agriculture Secretary Tom Vilsack and Interior Secretary Deb Haaland.

In a memo obtained by Politico, Biden advisers Jen O’Malley Dixon and Anita Dunn wrote White House Chief of Staff Ron Klain: “We will make clear that the president and Congressional Democrats beat the special interests and delivered what was best for the American people. Every step of the way, Congressional Republicans sided with the special interests — pushing an extreme MAGA agenda that costs families. The Building a Better America campaign will use all of the tools of the White House to bring these messages to the American people.

“President Biden, Vice President Harris, the Cabinet, our Hill allies, governors, mayors, and allied groups will take this message directly to the American people.”

Biden is in Colorado making appearances with Democratic Sens. Michael Bennet and John Hickenlooper. The memo said that on Wednesday, Haaland will be in central California to meet with federal, state and local leaders, visit with farmers and water users, along with Rep. Jim Costa, D-Calif.