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Inflation Reduction Act
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The Inflation Reduction Act of 2022 (IRA), Pub. L. 117–169 (text) (PDF), is a United States federal law which aimed to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting renewable energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.