LANSING, Mich. (WLNS) –Michigan Senators Gary Peters and Debbie Stabenow held a press conference Monday to talk about the Inflation Reduction Act and its impact on Michiganders.

The new legislation comes after months of negotiations with a pair of moderate Democrats.

Democrats say this bill will cut inflation, invest in clean energy, and reduce the price of prescription drugs.

Peters and Stabenow said they’re very excited about what this will do for people across the country.

“Anyone who’s on prescription drugs right now, particularly our seniors on fixed incomes, will tell you number one for them is trying to figure out whether they’re paying the rent, buying their food, or getting their medicine. And so we directly go at that,” Stabenow said.

“This will save money for Michiganders, immediately, within the next few months,” Peters said. “This is a significant development to bring down costs for folks all across our state.”