08/16/2023

President Biden to Explain Inflation Reduction Act on One-year Anniversary

Twelve months after it passed, the law has mixed reviews

President Joe Biden on Wednesday marks the first anniversary of signing his signature clean energy legislation called the Inflation Reduction Act by leading a campaign to better explain to Americans what, exactly, it does.

The climate-focused bill provides billions of dollars in tax credits to help consumers buy electric vehicles and companies produce renewable energy, as Biden aims to decarbonize the mighty U.S. power sector. It also helps seniors pay for prescription drugs, expands some elements of Obamacare and asks wealthy Americans and corporations to pick up the tab.

Twelve months after it passed, the law commonly referred to as the IRA, like most major U.S. legislation, has mixed reviews. Meanwhile, many Americans, even those who support Biden, don't know much about it, according to Reuters opinion polls.

Please select this link to read the complete article from Reuters.