Inflation Reduction Act Scoop

I know better than to proffer a blanket opinion with respect to a political party’s “rights” or “wrongs”, that being said, there are some elements of the Inflation Reduction Act that demand highlighting (especially as someone who A.) worries (it feels like) too much about the environment and B.) will be driving an EV in the near future). In full disclosure, I do not consider myself a democrat, nor a blindly following republican. I just don’t understand how so many smart people can’t seem to work together more ubiquitously for the united good…so, when I find snippets of potentially positive news come across the wire, I feel the need to share!

Inflation Reduction Act Scoop

BTW, as an aside, I welcome opposing opinions, feedback, and contradictory data…being opened minded is the key to happiness.

The Inflation Reduction Act highlights1

  • Enacts historic deficit reduction to fight inflation
  • Lowers energy costs, increases cleaner production, and reduces carbon emissions by roughly 40 percent by 2030
  • Allows Medicare to negotiate drug prices and caps out-of-pocket costs to $2,000
  • Lowers ACA health care premiums for millions of Americans
  • Make biggest corporations and ultra-wealthy pay more in taxes
  • There are no new taxes on families making $400,000 or less and no new taxes on small businesses – we are closing tax loopholes and enforcing the tax code.

1https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf

2 https://www.cnbc.com/2022/08/08/the-market-winners-and-losers-in-the-climate-health-and-tax-bill.html