On 16th August 2022, President Joe Biden signed the law on Inflation Reduction Act of 2022. The Inflation Reduction Act focuses on fighting inflation, lowering costs of medical prescriptions for senior citizens and, most importantly, pushing the domestic clean energy industries so that the U.S. can reduce its carbon emissions by 40% by 2030.
However, even after listening to the news and reading articles, all Americans have the same question: What does the Inflation Reduction Act do for me?
Here are seven benefits of the Inflation Reduction Act of 2022 for an American household.