HFMA September 28, 2022
After an all-night session that spanned two days, on Aug. 7 Senate Democrats voted along party lines to pass H.R. 5376, the Inflation Reduction Act of 2022 (IRA). The law was passed under budget reconciliation rules, allowing for passage with a simple majority of 51-50, with Vice President Kamala Harris as the tie-breaker. Five days later, the House likewise passed the 725-page bill in a partisan vote, 220-207, and on Aug. 16, President Joe Biden signed the bill into law.
After the Senate passed the bill, Senate Majority Leader Chuck Schumer (D-N.Y.) proclaimed that the $739 billion climate, tax and health bill “will endure as one of the defining legislative feats of the twenty-first century.a Similarly, Biden described it as...
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