Excerpt

September 1, 2022, Commentary: "The Inflation Reduction Act is now law. In the long run, the law is expected to have beneficial effects on deficit reduction as per the Congressional Budget Office. Through extensions of Affordable Care Act subsidies and prescription drug pricing reforms, it aims to decrease health care expenditures for seniors and lower-income households, and takes positive steps forward on climate policy through investments in clean energy and tax credits for households to offset energy costs."