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US House clears Inflation Reduction Act for President Biden's signature

|Tax Alerts, National/Federal Taxation, L ...|United States
United States

By a vote of 220-207, the United States (US) House, on 12 August 2022, cleared for President Joe Biden's signature the Senate Amendment to the Inflation Reduction Act (IRA) of 2022 (H.R. 5376). The bill would finance over US$430 billion1 in climate and energy provisions and an extension of enhanced Affordable Care Act (ACA) subsidies. It is projected to raise more than $700 billion in revenue…

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