The Inflation Reduction Act of 2022

On August 16 of this year, President Joe Biden signed a very significant bill into law that tackles some of the biggest issues and topics in this country today. A major section of the bill was healthcare, a topic that has been debated on and argued about for years on end. While this bill, which has been coined the Inflation Reduction Act, did not make healthcare universally free for all Americans or a free enterprise with no government involvement, significant waves were still made. The Inflation Reduction act details how millions of Americans will benefit from Medicare “finally having the power to negotiate prescription drug prices” (White House Statements & Releases, 2022). The Inflation Reduction Act also has Medicare capping off costs of prescriptions at an annual rate of $2,000, which has left countless Americans relieved.

However, healthcare wasn’t the only major topic covered by the Inflation Reduction Act. President Biden also targeted climate change and how we handle the earth’s environment. The Inflation Reduction Act made specific investments that will lead to America decreasing greenhouse gas emissions. The predicted goal with Biden’s plans and this act is that greenhouse gasses will be at least cut in half by 2030, and reach zero by 2050. 

There is no doubt that this act will make incredible waves for the American people and help us tackle several long-standing issues, both nationally and globally. All we can hope for now is that we continue to take steps in this progressive direction so we can heal our world and help our people

 

 

Works Cited:

 

The United States Government. (2022, August 17). State fact sheets: How the inflation reduction act lowers health care costs across America. The White House. Retrieved September 13, 2022, from https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/18/state-fact-sheets-how-the-inflation-reduction-act-lowers-health-care-costs-across-america/