Inflation Reduction Act
inflation reduction bill
The Inflation Reduction Act of 2022 (IRA), Pub. L. 117–169 (text) (PDF), is a United States federal law which aimed to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting renewable energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.
It is a budget reconciliation bill sponsored by senators Chuck Schumer (D-NY) and Joe Manchin (D-WV). The bill was the result of negotiations on the proposed Build Back Better Act, which was reduced and comprehensively reworked from its initial proposal after being opposed by Manchin. It was introduced as an amendment to the Build Back Better Act and the legislative text was substituted. All Democrats in the Senate and House voted for the bill while all voting Republicans voted against it. It was described as a landmark piece of legislation.
According to the nonpartisan Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT), the law will raise $738 billion from tax reform and prescription drug reform to lower prices, as well as authorize $891 billion in total spending – including $391 billion on energy and climate change, and $64 billion on three years of Affordable Care Act subsidies. It represents the largest investment towards addressing greenhouse gas emissions in United States history.
This brief starts where responsible research should: with the source description of “Inflation Reduction Act” as inflation reduction bill. Everything that follows is an evidence route, not borrowed authority.
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The subject matters to the general reference register because the source frames it as inflation reduction bill. Its deeper value depends on whether names, dates, institutions and citations support that framing.
The citation trail is more important than the brevity of the summary: it shows where individual claims can be examined in context. The source revision retrieved here is dated Aug 28, 2026. The linked authority identifier is Q113468254. None of the 0 selected statements returned an explicit reference. The first chronological checks are 2022.
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This entry incorporates text from “Inflation Reduction Act” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.