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By Staff Reporters
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Most likely to have an identity crisis: The Inflation Reduction Act
After a seemingly endless will-they-or-won’t-they make a deal dance, Democrats passed their signature piece of legislation, the Inflation Reduction Act, without Republican support.
The 755-page climate, tax, and healthcare package does a lot of things: It establishes a 15% minimum tax on megacorporations, boosts funding for the IRS, allows Medicare to negotiate prescription drug prices, offers $260 billion in tax credits for renewable energy projects, and more. One thing it likely won’t do: reduce inflation. Despite the name, the law’s impact on rising prices through 2023 is expected to be “negligible.”
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Filed under: Alerts Sign-Up, Drugs and Pharma, Funding Basics, Managed Care | Tagged: Inflation Reduction Act, IRA, medicare |
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