MITCHELL, S.D.(WNAX)- Congress passed and President Biden signed the seven hundred forty billion dollar “Inflation Reduction Act” this week.

South Dakota Senator John Thune, along with all other republicans in Congress voted against the bill.

He says he sees limited good in the bill.

Thune says most analysts don’t see the bill providing much help in lowering inflation.

Thune says there isn’t much provision for oversight of the spending.

The bills stated aims include paying down national debt, moving toward more green energy and reducing costs of prescription drugs.