Biden signs Inflation Reduction Act 2022

[butterscotch]

A post on another part of the forum reminded me of this. Biden signed the Inflation Reduction Act. It has effects on climate change, renewable energy, increasing taxes on some corporations, funding the IRS more and reducing the government deficit. Some of the benefits for the next couple years include:

2022
Extension of existing ACA subsidies for three years
Climate provisions and residential clean energy credits
Extension of $7,500 credit for the purchase of certain EVs through Dec. 31, 2032
$80 billion to the Internal Revenue Service to beef up enforcement

2023
$35 monthly insulin cap for diabetic Medicare beneficiaries
Penalty for drug companies that raise the price of a drug more than the increase in inflation
A new $4,000 tax credit on used EVs
Credits for companies that invest in clean energy manufacturing and energy security
The new 15% minimum tax on corporations
New 1% excise tax on stock buybacks

Biden Signs Inflation Reduction Act Into Law

[Donkeyman]

@butterscotch , What do you think of it butterscotch ??
Sounds a bit socialist for america to me ??