FACT SHEET: Two Years In, the Inflation Reduction Act is Lowering …

Aug 16, 2024 · Two years ago, President Biden signed the Inflation Reduction Act, with Vice President Harris casting the tie-breaking vote in Congress. The Inflation Reduction Act is a key …

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FACT SHEET: The Inflation Reduction Act Supports Workers And

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Aug 19, 2022 · The Inflation Reduction Act will protect Medicare recipients from catastrophic drug costs by phasing in a cap for out-of-pocket costs and establishing a$35 cap for a month’s …

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The Inflation Reduction Act’s Benefits And Costs

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Mar 1, 2024 · Taken literally, that means 11% of the $5.6 trillion global benefits in Figure 1, or $640 billion, involve direct U.S. benefits, with a range anywhere from $150 billion to $2.5 …

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BY THE NUMBERS: The Inflation Reduction Act | The White House

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Aug 15, 2022 · The Inflation Act will achieve hundreds of billions in deficit reduction. The deficit is projected to fall by more than $1.5 trillion this year after falling by more than $350 billion last …

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FAQs about FACT SHEET: Two Years In, the Inflation Reduction Act is Lowering … Coupon?

What is the inflation reduction act?

The Inflation Reduction Act is a key part of the Biden-Harris Administration’s Investing in America agenda, which has driven the fastest and most equitable recovery on record – creating good-paying jobs, expanding opportunity, and lowering costs in every corner of the country. ...

How will the inflation reduction act change American lives?

Already, the Inflation Reduction Act is transforming American lives by finally beating Big Pharma to negotiate lower prescription drug prices, making the largest investment in clean energy and climate action in history, creating hundreds of thousands good-paying jobs, lowering health care and energy costs, and making the tax code fairer. ...

How much will the inflation reduction act Save You?

15%: the minimum tax on corporate profits the Inflation Reduction Act imposes on the largest, most profitable corporations. $124 billion: savings over 10 years the Inflation Reduction Act will generate from collecting taxes already owed by wealthy people and large corporations, according to the Congressional Budget Office. ...

What is the inflation Reduction Act (IRA)?

On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law, marking one of the largest investments in the American economy, energy security, and climate that Congress has made in the nation’s history. ...

How much money did the inflation Reduction Act provide for 2024?

For Fiscal Year 2024, which began October 1, 2023, the Inflation Reduction Act provided $1.65 billion for the Environmental Quality Incentives Program (EQIP), $754 million for the Regional Conservation Partnership Program (RCPP), and $472 million for the Conservation Stewardship Program (CSP). ...

How much will the Inflation Act reduce the deficit?

Reducing the Deficit The Inflation Act will achieve hundreds of billions in deficit reduction. The deficit is projected to fall by more than $1.5 trillion this year after falling by more than $350 billion last year. ...