What to Know About the Democrats’ Inflation Reduction Act

July 28, 2022 12:29 pm ET

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The bill Sen. Joe Manchin (D-W.Va.) and Majority Leader Chuck Schumer agreed to aims to address climate change, healthcare, taxes, and more. Photo by Kevin Dietsch/Getty Images

Build Back Better is dead. The Inflation Reduction Act is here. 

Senators Joe Manchin (D-W.Va.) and Majority Leader Chuck Schumer (D-N.Y.) caught almost everyone by surprise when they announced a scaled-down version of the Build Back Better Act Wednesday evening. Manchin had previously declared President Biden’s $2 trillion package dead and walked away from negotiations.

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