Inflation Reduction Act: 4 ways it will kick in right away
The signing Tuesday of the Inflation Reduction Act is set to kick off a parade of action from the Biden administration and other Democrats to sell the bill to the public. While some analysis shows it won't meaningfully reduce inflation, the so-called IRA will devote hundreds of billions of dollars toward fighting climate change, reducing prescription drug costs, and cutting the deficit.
President Joe Biden and others will fan out around the U.S. in the coming weeks to discuss the bill, according to the White House — with Cabinet members traveling to 23 states just this month.
The coming Democratic message will likely focus on the aspects of the bill that could improve Americans' lives immediately — including tax credits for electric vehicles and energy-efficient home improvements and key health care provisions.
“A lot is going to happen,” Biden said recently of what to expect once the bill is signed, trying to emphasize that much of the action will be quick.
https://finance.yahoo.com/news/4-key-ways-the-inflation-reduction-act-will-kick-in-right-away-182211474.html