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Biden marked the Inflation Reduction Act (IRA) into law

Biden marked the Inflation Reduction Act (IRA) into law

US President Joe Biden marked the Inflation Reduction Act (IRA) into law. Biden commended the act’s sweeping healthcare, tax, and climate reforms. According to Senate Democrats, the IRA achieves eight main goals. They are growing Medicare benefits by guaranteeing free vaccines and price caps on insulin and personal drug costs, bringing down energy costs through tax credits and refunds, decreasing carbon emissions by 40 percent by 2030, managing drug companies to lower healthcare costs, contributing $60 billion to create clean manufacturing jobs, Invests $60 billion in environmental justice for burdened communities, Introduces a 15 percent corporate tax and a one percent fee on stock buybacks to raise an expected $737 billion in income and Introduces securities for families and businesses making $400,000 or less.