Inflation Reduction Act

Legal fights and loopholes could blunt Medicare's new power to control drug prices

1:48pm September 15, 2022

The Inflation Reduction Act gives Medicare historic new powers to limit prescription drug prices. But the pharmaceutical industry is already lobbying to dull their impact.

Electric vehicles are displayed at a news conference with White House Climate Adviser Gina McCarthy and Secretary of Transportation Pete Buttigieg in Washington, D.C., on April 22, 2021. The Biden administration's climate and health care bill passed by Co

Economy

You can get a $7,500 tax credit to buy an electric car, but it's really complicated

5:07pm August 22, 2022

by Arezou Rezvani

The Biden administration's climate and health care bill revamps the available tax credits for buyers of electric cars. Here's what to know about how they work.

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The Internal Revenue Service building is seen in Washington, D.C., on April 5. The IRS got $80 billion in new funding as part of the climate and health care bill passed by Congress on Friday. Most of that money will be used to target wealthier tax evaders

The IRS just got $80 billion to beef up. A big goal? Going after rich tax dodgers

10:10am August 14, 2022

by Scott Horsley

The big climate and health care bill passed by the House Friday includes billions in new funding for the IRS over the next decade. Most of that money is aimed at catching wealthy tax cheats.

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Fast-growing green jobs pay more, Wake Forest economist says

5:37pm August 09, 2022

by Paul Garber

New research by Wake Forest University economist Mark Curtis finds that jobs in the renewable energy sector have tripled in the last 15 years, a figure that could grow with the recent passage of th

Senate Majority Leader Chuck Schumer gives the thumbs up as he leaves the Senate Chamber after passage of the Inflation Reduction Act on Sunday.

Politics & Government

Democrats passed a major climate, health and tax bill. Here's what's in it

9:53pm August 07, 2022

by Deepa Shivaram

Senate Democrats spent the weekend advancing what they call a historic piece of legislation, but it's still a much smaller version of what they — and President Biden — originally called for.

Senate Majority Leader Chuck Schumer (D-N.Y.) said Friday that he believes Democrats have the votes needed to pass their Inflation Reduction Act.

Politics & Government

The Senate is moving ahead on Democrats' sweeping health, climate and tax bill

8:37pm August 06, 2022

by Deepa Shivaram

The wide-ranging legislation targets climate change, health care costs and taxes. Majority Leader Chuck Schumer kicked off floor debate on Saturday evening.

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President Joe Biden gestures toward reporters as he departs Marine One and walks to the Oval Office on the South Lawn of the White House on July 20.

Politics & Government

President Biden has tested negative for COVID again but will remain in isolation

8:19pm August 06, 2022

by Eric McDaniel

President Biden is negative for COVID-19 after a rebound case but will remain in isolation pending a second negative test, the White House announced on Saturday.

Sen. Kyrsten Sinema (D-Ariz.) said Thursday that she would "move forward" with Senate Democrats' spending bill to tackle climate change, health care and tax reforms.

Politics & Government

Sinema says she will move forward with Senate Democrats' climate, health and tax bill

11:28pm August 04, 2022

by Deepa Shivaram

The Arizona senator said late Thursday that she will move forward with the Inflation Reduction Act after Democrats reached an agreement to narrow the carried interest tax provision.

Senate Majority Leader Chuck Schumer (D-N.Y.) said Thursday that the Senate would vote to move forward on the Inflation Reduction Act, the Democrats' package that tackles climate change, prescription drugs and inflation, this weekend.

Politics & Government

Senate will take up Democrats' tax, climate and health bill on Saturday, Schumer says

6:26pm August 04, 2022

by Deepa Shivaram

Senate Majority Leader Chuck Schumer has repeatedly said Democrats are on track to pass the Inflation Reduction Act in the coming days, but a few roadblocks still stand in the way.