Inflation Reduction Act: What's In A New Bill For Americans

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A Deal Set To Raise over $800 Billion In The Coming Decade For Everything From Fighting Climate Change To Extending Obamacare

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Sens. Chuck Schumer and Joe Manchin surprised the world on July 27 when they released a sweeping, 725-page bill known as IRA

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On Wednesday, Economic Advisers Member Jared Bernstein said “huge opportunities for investment” to the U.S. economy

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Approximately $385 billion in total will fund clean manufacturing, agriculture efforts, and other sectors

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The bill also would add an inflation cap on drug prices to stabilize monthly costs and cap out-of-pocket drug expenses through new rules on rebates

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Advocates of the package is that the bill will reduce the deficit by around $300 billion over the coming decade through a series of “pay fors”

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There is a new minimum corporate tax that would apply to corporations that have made over $1 billion in book profits in recent years

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On Friday on Yahoo Finance, investor Kevin O'Leary contended the new minimum corporate tax could make the U.S. less competitive

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