Inflation Reduction Act
Inflation Reduction Act of 2022
§ LEGISLATIONhealthcare· 2022
What It Did
Allowed Medicare to negotiate prices for certain prescription drugs for the first time, capped insulin costs at $35/month for Medicare beneficiaries, and extended ACA marketplace subsidies. Also invested $369 billion in energy security and climate change provisions and imposed a 15% minimum corporate tax.
The Vote
House · 220–207 (passage)
D
220 YEA · 0 NAY
R
0 YEA · 207 NAY
Senate · 51–50 (passage)
D
51 YEA · 0 NAY
R
0 YEA · 50 NAY
Key Sponsors
→ Joe Manchin (D-WV) · Senate
→ Chuck Schumer (D-NY) · Senate
Sources: Congress.gov · VoteView · FRED
In the Years Following
Economic indicators related to this law, showing 5 years before through 10 years after.
CPI — Medical Care
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CPI — Energy
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Corporate Profits After Tax
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CPI — All Items
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Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.