Inflation Reduction Act

Inflation Reduction Act of 2022

Long title	To provide for reconciliation pursuant to title II of S. Con. Res. 14.
Acronyms (colloquial)	IRA
Enacted by	the 117th United States Congress
Effective	August 16, 2022
Citations
Public law	Pub.L. 117-169
Statutes at Large	136 Stat. 1818
Legislative history
Introduced in the House as the "Build Back Better Act" (H.R. 5376) by John Yarmuth (D–KY) on September 27, 2021 Committee consideration by House Budget Passed the House on November 19, 2021 (220–213) Passed the Senate as the "Inflation Reduction Act of 2022" on August 7, 2022 (51–50) with amendment House agreed to Senate amendment on August 12, 2022 (220–207) Signed into law by President Joe Biden on August 16, 2022
Major amendments
Fiscal Responsibility Act of 2023

The Inflation Reduction Act of 2022 is a United States federal law which aims to reduce inflation by possibly reducing the federal government budget deficit, lowering prescription drug prices, and investing into domestic energy production while promoting clean energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.^[1]

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