Inflation Reduction Act
The Inflation Reduction Act of 2022 is a budget reconciliation bill sponsored by Senators Chuck Schumer D-NY and Joe Manchin D-WV authorizing 370 billion in spending on energy and climate change 300 billion in deficit reduction three years of Affordable Care Act subsidies prescription drug reform and tax reform. Democrats say the roughly 370 billion burst in spending will allow the. Pin Page Along with tax reform measures and efforts to bring down healthcare costs the bill provides 370 billion toward decarbonization. . Over the weekend Senate Democrats passed the Inflation Reduction Act of 2022 legislation that would fulfill some of President Bidens campaign promises on climate and prescription drugs. Senate Majority Leader Chuck Schumer D-NY. The ongoing marketplace special enrollment period for subsidy-eligible applicants with household income up to 150 of FPL would continue to be available through 2025. By lowering energ...