Inflation Reduction Act 2024 Cost. The new bill makes the largest investment in combating climate change in u.s. The inflation reduction act requires drug companies to pay rebates to medicare when prices increase faster than the rate of inflation for certain drugs.

Through the inflation reduction act, president biden is delivering on his promise to lower prescription drug costs, make health insurance more affordable, and make the economy. Federal tax credits and rebates can lower the cost of some green home improvements and electric vehicles.