President Biden on Tuesday will sign into law the Inflation Reduction Act, an ambitious measure that aims to tamp down on inflation, lower prescription drug prices, tackle climate change, reduce the deficit and impose a minimum tax on profits of the largest corporations.

“President Biden and Congressional Democrats have worked together to deliver a historic legislative achievement that defeats special interests, delivers for American families, and grows the economy from the bottom up and middle out,” the White House said in a statement Monday.

The House passed the bill Friday in a 220-207 vote, days after the Senate narrowly passed it on a party-line vote, with Vice President Harris serving as the tiebreaker. The bill’s passage marked one of the most successful legislative efforts by congressional Democrats this session, ahead of contentious midterm elections — and also one that seemed increasingly unlikely for about a year and a half.

Last year, a larger $2 trillion spending package known as the Build Back Better Act stalled in Congress after hitting opposition from moderate Democratic Sens. Kyrsten Sinema (Ariz.) and Joe Manchin III (W.Va.), who after weeks of negotiations with the White House said in December that he could not move forward with the bill.