August 12, 2022

Today, the House of Representatives passed the Inflation Reduction Act, a sweeping bill that will invest more than $430 billion in climate change and extended subsidies for the Affordable Care Act. It will raise about $737 billion over the next ten years by allowing Medicare to negotiate drug prices, adequately staffing the Internal Revenue Service after years of cuts so it can catch people cheating on their taxes, and raising the tax rate on rich corporations to require them to pay a minimum of 15%.

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