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The Inflation Reduction Act of 2022 (IRA) is a United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16 ...
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
Although the federal government did not issue any economic impact payments — aka stimulus checks — in 2022, some states took it upon themselves to offer financial relief to eligible residents ...
2021–2023 inflation surge. Inflation rate, United States and eurozone, January 1960 through June 2024. Following the COVID-19 pandemic in 2020, a worldwide surge in inflation began in mid-2021 and lasted until mid-2022. Many countries saw their highest inflation rates in decades. It has been attributed to various causes, including pandemic ...
The 2022 stock market decline was a short-lived bear market that impacted several equity indices around the world. While initially assuming the 2021 inflation surge to be “temporary” or “transitory,” many of the world’s central banks left policy rates unchanged near zero in 2021. When inflation proved to be much higher and stickier ...
California authorized inflation relief checks of up to $1,050 in 2022, and most payments have already been distributed. However, the state estimates that about 5% of checks won’t go out until ...
The United States federal budget for fiscal year 2022 ran from October 1, 2021, to September 30, 2022. The government was initially funded through a series of four temporary continuing resolutions. The final funding package was passed as an omnibus spending bill, the Consolidated Appropriations Act, 2022.
On July 1, 2021, the Congressional Budget Office said the federal deficit would reach $3 trillion for the second year in a row. [187] The national debt of the United States as of January 2022 reached $30 trilion. [188] Gross Domestic Product grew by between 5% and 6% in year 2021 and between 4% and 5% in the start of year 2022. [189]