Inflation Reduction Act Signed By Biden 2024

Inflation Reduction Act Signed By Biden 2024. When the law, known as the inflation reduction act, was approved in 2022, analysts predicted that it would help cut america’s greenhouse gas emissions roughly 40. On august 16, 2022, president biden signed the inflation reduction act into law, marking the most significant action congress has taken on clean energy and climate change.

The inflation reduction act contains $500 billion in new spending and tax breaks that aim to boost clean energy, reduce healthcare costs, and increase tax revenues. 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.