Inflation Reduction Act

5376 the Inflation Reduction Act of 2022 in the State Dining Room of the White House in Washington DC on August 16 2022. Speaker of the House Nancy Pelosi D-Calif talks to reporters on Friday during her weekly news conference ahead of.

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. The Inflation Reduction Act is a trimmed-down version of the 185 trillion Build Back Better Act that was narrowly passed by the Houseon Nov. The Inflation Reduction Act of 2022 HR. 410 Dirksen Senate Office Building Washington DC.

The Inflation Reduction Act of 2022 IRA is a United States law which aims to curb inflation by reducing the deficit lowering prescription drug prices and investing into domestic energy production while promoting clean energy solutions. 1 day agoUS President Joe Biden speaks during a signing ceremony for HR. The Inflation Reduction Act is not expected to bring down inflation dramatically or right away but experts say that might not be such a bad thing given the bills other areas of focus.

5376 is designed to reduce the deficit and lower inflation while investing in domestic energy production and lowering healthcare drug costs. The Inflation Reduction Act allows the federal government to negotiate prices for some of the drugs that Medicare spends the most money on a long sought-after goal by Democrats and some. 19 2021 with a 220 to 213 vote.

The Inflation Reduction Act will lower costs for families combat the climate crisis reduce the deficit and finally ask the largest corporations to pay their fair share. This would be the second part to President Bidens infrastructure and social spending legislation. The Inflation Reduction Act IRA successor to the House-passed Build Back Better Act of late 2021 has been touted by President Biden to among other things help reduce the countrys crippling inflation.

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