Health Affairs  |  August 9, 2022

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On August 7, 2022, the U.S. Senate approved the Inflation Reduction Act (IRA), a sweeping $740 billion budget reconciliation package. The legislation—passed by a vote of 51 to 50 with Vice President Kamala Harris casting the tie-breaking vote—now heads to the U.S. House of Representatives, which is expected to consider the bill on August 12. Assuming passage by a majority of the House, President Biden is expected to sign the IRA into law.

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