Biden signs Democrats' $740 billion tax, climate and health care bill into law

Axios · Shawna Chen · last updated August 16, 2022 – 4:05 PM

The Inflation Reduction Act includes provisions that increase taxes on large corporations and lower prescription drug costs.

Related Knowledge Center: Climate legislation

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The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.

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