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On March 25, 2024, the Biden administration announced the first 33 grant recipients of the Department of Energy's $6 billion Industrial Demonstrations Program to reduce embedded emissions in factories and materials processing, of which the Inflation Reduction Act funds $5.46 billion.
The Inflation Reduction Act has sparked a manufacturing boom across the U.S., mobilizing tens of billions of dollars of investment, particularly in rural communities in need of economic development.
The funding comes from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. [202] [203] In February 2024, $157 million was allocated to 206 projects linked to ecosystem restoration. The projects are spread all over the territory of the United States and are advanced in cooperation with states, tribes, nonprofits and ...
As part of the Inflation Reduction Act, Biden would go on to beef up subsidies for middle-income families purchasing coverage on the ACA exchanges. ... And during the 2024 vice presidential debate ...
The Senate passed the Inflation Reduction Act on August 7, 2022, on a 51–50 vote, with a tie-breaking vote from Vice President Kamala Harris, [80] returning the amended bill to the House. On August 12, the House passed the bill on a 220–207 vote, [ 81 ] and President Biden signed it into law on August 16.
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...