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The funding comes from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. [266] [267] 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. [268]
A provision of Biden’s Inflation Reduction Act requires drugmakers to pay rebates to Medicare, the federal health program for Americans over age 65, if they hike the price of a medication faster ...
President Joe Biden's signature Inflation Reduction Act (IRA) includes a provision to penalize drugmakers who work with Medicare, a government program for people aged 65 and older or who are disabled.
In August 2022, Biden signed into law the Inflation Reduction Act of 2022, which includes the largest federal climate change investment in American history. [26] [27] The act has the capacity to create $3 trillion in climate investments in the 2022–2032 period and $11 trillion in overall infrastructure investments by 2050. [28]
Starting in fiscal year 2024, 50 drugs with the same criteria as before would need to have their price negotiated. Any newly approved, single-source, brand name drugs that exceeds a price threshold that the HHS has set that was determined to likely to meet the spending criteria. The negotiated drug prices would have to meet the following criteria:
Big pieces of the landmark Inflation Reduction Act that President Biden signed into law four and a half months ago are set to come online in 2023.. On Jan. 1, an array of the law’s provisions ...
In October 2022, the USDA announced a $1.3 billion debt relief program for about 36,000 farmers who had fallen behind on loan payments or facing foreclosures. The provisions in the Inflation Reduction Act of 2022 set aside $3.1 billion to help such farmers with high-risk operations caused by USDA-backed loans. [22]
One way the administration did that was through the Inflation Reduction Act (IRA), which was signed into law in 2022. Key provisions of the bill are directly aimed at improving the lives of the ...