Inflation reduction act

Democrats need to make the Inflation Reduction Act live up to its promise, Felicia Wong of the Roosevelt Institute says.

The report raises hopes that the Federal Reserve to raise short-term interest rates by less than had been anticipated when it meets in late September.

The bill includes language that would make most existing electric vehicle models ineligible for the tax credit that's intended to make them more affordable.

The bill, which has passed in the Senate and is up for a vote in the House this week, would allocate tens of billions to communities which suffer disproportionately from the effects of climate change.

The bill incentivizes clean energy but doesn't vilify fossil fuels. Traditional oil companies can access some of the benefits as well.

The health policy reform is part of the Democrats' Inflation Reduction Act, which could aid 48 million Medicare recipients.