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The Act to provide for reconciliation pursuant to title II of S. Con. Res. 14 is a landmark United States federal law which aims to curb inflation by reducing the deficit, lowering prescription drug prices, and investing into domestic energy production while promoting clean energy. Introduced in Congress as the Inflation Reduction Act of 2022, it passed the 117th United States Congress and was signed into law by President Joe Biden on August 16, 2022. It is a budget reconciliation bill sponsored by Senators Chuck Schumer (D-NY) and Joe Manchin (D-WV). The bill was the result of negotiations on the proposed Build Back Better Act, which was reduced and comprehensively reworked from its initial proposal after being opposed by Manchin. It was introduced as an amendment to the Build Back Better Act and the legislative text was substituted.
References
- ↑ House, The White (2022-09-12). "Executive Order on the Implementation of the Energy and Infrastructure Provisions of the Inflation Reduction Act of 2022". The White House. Retrieved 2022-12-16.
- ↑ House, The White (2022-09-02). "President Biden Announces Senior Clean Energy and Climate Team". The White House. Retrieved 2022-12-16.
