At a White House ceremony, Biden touted the private sector investments spurred by the law as well as associated job creation and the incentives it has driven to address climate change, such as the use of electric heat pumps and the installation of solar panels.

Biden also took shots at Republicans for uniformly voting against the bill and attempting to strip provisions from it in the fight over the federal debt ceiling earlier this year.

“Republicans have repeatedly tried to repeal key parts of the Inflation Reduction Act, including the Speaker of the House now,” Biden said, noting some have still tried “taking credit for the billions of dollars in private investments and thousands of jobs coming into their states.”

Meanwhile, in a report shared with The Hill, the Department of Energy projected the law and the Bipartisan Infrastructure Law could save Americans up to $38 billion in electricity costs by the end of the decade relative to a scenario where they never passed.

Read more in a full report at TheHill.com and more coverage from our colleague Brett Samuels.

Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.