The Inflation Reduction Act of 2022 now goes to President Biden for his signature.
Mr. Biden said on Twitter that he would sign the bill into law next week and that he would hold a celebratory event at the White House on Sept. 6.
Get ahead of the curve on the Inflation Reduction Act of 2022.
The goal of the bill is:
- Expand the COVID relief for ACA premiums until 2025
- Increase cleaner production and reduce carbon emissions by roughly 40% by 2030
- Increase IRS funding by $80B to expand the audit rate
- Introduce a Corporate minimum tax rate of 15% for profits over $1B
- Lower medicare & pocket drug costs
- Lower energy costs
This may soon become law, but it has not yet passed.
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