Inflation Reduction Act 2025. The inflation reduction act of 2022 includes several provisions to lower prescription drug costs for people with medicare and reduce drug spending by the federal government, including a. On august 16, 2022, president biden signed the inflation reduction act (ira) into law, marking one of the largest investments in the american economy, energy security, and.
Looking ahead to 2025, the incoming trump administration and republican majorities in congress are expected to revisit those incentives during debate over a new round. Last year, 3.4 million americans benefited from $8.4 billion in inflation reduction act tax credits to lower the cost of clean energy and energy efficiency upgrades in their homes.
