By Miriam Raftery

August 17, 2022 (Washington D.C.) – President Joe Biden has signed the Inflation Reduction Act, calling it “one of the most significant laws in our history.” He added, “With this law, the American people won and the special interests lost.” The bill cuts prescription drug costs for Medicare and has healthcare savings for many others, provides tax breaks and rebates for households and companies investing in clean energy, funds IRS collections from tax dodgers and levies new taxes on some corporations, also aiming to sharply reduce the federal deficit.