Last year, the Biden administration unveiled the first set of prescription drugs that are subject to price negotiations with Medicare -- a milestone for Democrats in their yearslong push to lower rising health care costs.

He celebrated the effort, telling the crowd: "With a law I proposed and signed and not one Republican voted for we finally beat Big Pharma."

"Now it’s time to go further and give Medicare the power to negotiate lower prices for 500 drugs over the next decade," Biden proposed. "That will not only save lives it will save taxpayers another $200 billion."

Voters have disapproved of how the economy is doing since Biden took office, though most of the measures economists look at have been increasingly strong. Biden's been trying to convince voters that his economic plans will deliver, but that’s been a hard sell even with his own voters.

Despite Americans’ economic outlook is improving, they haven’t so far given Biden credit, and it hasn’t translated into increased approval ratings for him.

-Monica Potts, 538

Biden, who has faced low poll numbers on his handling of the economy, highlighted the positive numbers on unemployment, job growth and cooling inflation from headline-making highs.

"Wages keep going up, inflation keeps coming down," he said to applause. "Inflation has dropped from 9% to 3%, the lowest in the world and trending lower."

"It takes time but the American people are beginning to feel it," he said.

Biden recalled how four years ago this month, the U.S. was hit by the "worst pandemic and the worst economic crisis of the century."

"I came to office determined to get us through one of the toughest periods in the nation's history," he said. "It doesn't make news, but in a thousand cities and towns the American people are writing the greatest comeback story never told."

Biden touted that 15 million new jobs were created in just three years after the onset of COVID-19 and unemployment is at 50-year lows. A "record" 16 million Americans are starting small businesses, he said.

He also suggested that the country has moved beyond the pandemic, though people continue to die from the disease every day -- at much lower numbers than before the advent of vaccines.

The attendees at Biden's address Thursday were invited because each "personify issues or themes" that he will discuss in his speech, the White House said in a statement.

Biden's guests will shine a spotlight the Israel-Gaza conflict (which has fueled progressive criticism against him) and reproductive freedom battles, gun violence prevention, union protections and more.

Standing behind Biden will be Vice President Kamala Harris on his right and Speaker of the House Mike Johnson on his left. Members of both the Senate and the House of Representatives will be in attendance.

More than a dozen family members of Americans who are thought to still be held hostage in Gaza and Mia Schem, a freed Israeli hostage, will be present at the Capitol.

First lady Jill Biden invited three women working to protect reproductive rights in her box: Kate Cox, Latorya Beasley and Maria Shriver.

Jazmin Cazares, the older sister of a 9-year-old victim of the deadly shooting at Robb Elementary in Uvalde, Texas, will be in attendance, too.

The United Auto Workers union president, Shawn Fain, who recently endorsed Biden, will also be present.