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The funding comes from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. [265] [266] According to a Biden administration statement, in the first year of implementation, around $2 billion was allocated to protect and restore land and marine ecosystems, including National Parks and the National Wildlife Refuge System. [267]
The Inflation Reduction Act — which still has plenty of hurdles to overcome before it becomes law — is a far cry from some early Democratic ambitions but nonetheless marks a potentially giant ...
As of August 2023, there has been no evidence that the Inflation Reduction Act increased or decreased inflation. [171] Gernot Wagner argues that the benefits of the Act will likely not be felt before the 2024 election, but that the act is a great long-term strategy to decouple from volatile energy markets that drive inflation. [106] [107]
Sen. Manchin made deficit reduction a must-have portion of the bill to earn his support and noted “it is past time for America to begin paying down our $30 trillion national debt” in ...
President Joe Biden signed the Inflation Reduction Act, the roughly $700 billion climate, health care and tax package that passed Congress last week on a party line vote. Biden handed a pen to Sen ...
Inflation Reduction Act of 2022, Pub. L. 117–169 (text) (2022) Since 1980, four reconciliation bills have passed Congress, but were vetoed by the president: [ 47 ] Balanced Budget Act of 1995, H.R. 2491 (vetoed December 6, 1995)
The Inflation Reduction Act will be voted on in the House on Aug. 12, but several states are pursuing similar legislation. Discover: 8 Purchases Retirees Almost Always Regret
With President Joe Biden signing the Inflation Reduction Act into law on Aug. 16, it marks one of the biggest spending packages in American history at $750 billion, per CNN. In total, $430 billion...