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.

Biden will soon take the stage to give the president's annual address to a joint session of Congress and millions of Americans who are expected to be tuned in at home.

The high-stakes political moment serves as a chance for Biden to tout his accomplishments and lay out his plan for the nation as he seeks to convince voters to give him another four years -- and to dispel concerns about his age and fitness for a second term.

The speech is expected to focus heavily on the rebounding economy post-pandemic, as well as reproductive rights, America's role in international conflicts and the state of democracy at home.

With the 2024 election all but certain to be a Biden-Trump rematch, Biden is also expected to highlight the differences between his agenda and that of his Republican predecessor, who has promised to be making real-time rebuttals. That contrast was evident in an excerpt of his speech released by the White House in which Biden will say he was taught to "embrace freedom and democracy" while "some other people my age see a different story: an American story of resentment, revenge and retribution."