Inflation Reduction Act 2024 Cost. On august 16, 2022, president biden signed the inflation reduction act (ira) into law, marking one of the largest investments in the american economy, energy security, and climate that congress has made in the nation’s history. Through the inflation reduction act, president biden is delivering on his promise to lower prescription drug costs, make health insurance more affordable, and make the economy.

The researchers find that 75 percent of the ev subsidies claimed under the inflation reduction act (ira) have gone to consumers who would have bought an electric vehicle. Through the inflation reduction act, president biden is delivering on his promise to lower prescription drug costs, make health insurance more affordable, and make the economy.