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What’s in the Inflation Reduction Act?

The “IRA” was signed into law on Aug 16, 2022 and is projected to cost $430 billion.  Interestingly, the initial estimates suggest that it has less to do with inflation and more to do with decreasing our deficit in the United States.

There are a number of areas in this bill that will impact our clients.  Examples include the energy related home improvement tax credits, the continuation of the Affordable Care Act through 2024, and Medicare prescription drug caps.