Five Truths About How The Inflation Reduction Act Will Help Small Business And Working Families

As it was making its way through Congress, I wrote a piece on the Inflation Reduction Act (IRA) that showed economic benefits from economists, policy experts and small business advocates. Last week, the Senate passed the IRA and on Friday, the House of Representatives passed it, sending it to President Joe Biden for his signature. The president will likely sign this bill into law later this week. This landmark legislation will help small businesses and working Americans by investing in deficit reduction to fight inflation, increasing manufacturing, lowering drug prices, and leveling the playing field by creating a modest minimum tax that ensures the country’s wealthiest corporations give something back to the society that has enriched them.

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