Inflation Reduction Act of 2022 by Jaidynn Benjamin

9/27/2021

benjamjj24 — 2023-12-07 16:36:12 UTC

On September 27, 2021, this bill was first presented in the House of Representatives. On the same day, this event was placed on the Union Calendar.

11/19/2021

benjamjj24 — 2023-12-07 16:38:34 UTC

On November 19, 2021, the bill was passed in the House of Representatives. Passed by the Yeas and Nays; 220-213.

8/2/2022

benjamjj24 — 2023-12-07 16:40:42 UTC

On August 2, 2022, this bill was received in the Senate. It was read for the first time, then placed on the Senate Legislative Calendar under Read the First Time.

8/7/2022

benjamjj24 — 2023-12-07 17:23:16 UTC

The bill was passed in Senate. Passed by Yea-Nay vote; 51-50.

8/3/2022

benjamjj24 — 2023-12-11 14:56:20 UTC

On August 3, 2022, the bill was read in Senate for the second time. It was placed on the Senate Legislative Calendar under General Orders.

8/4/2022

benjamjj24 — 2023-12-11 15:00:35 UTC

On August 4, 2022, a committee came together to discuss banking, housing, and urban affairs. Hearings were held.

8/8/2022

benjamjj24 — 2023-12-11 15:02:52 UTC

On August 8, 2022, a message on the Senate action was sent to the House of Representatives.

11/18/2021

benjamjj24 — 2023-12-11 15:12:33 UTC

On November 18, 2021, a 2 hour debate was held in the House. On the same day, the debate was considered unfinished business.

8/12/2022

benjamjj24 — 2023-12-13 15:48:29 UTC

On August 12, 2022, the House agreed with the Senate amendment. Passed by the Yeas and Nays, 220-207.

8/15/2022

benjamjj24 — 2023-12-13 15:51:16 UTC

On August 15, 2022, the bill was presented to the president. Joe Biden was the president at the current time.

8/16/2022

benjamjj24 — 2023-12-13 15:52:36 UTC

On August 16, 2022, the bill was signed by President Biden. This made it official.

8/16/2022

benjamjj24 — 2023-12-13 15:55:48 UTC

On August 16, 2022, this bill became a law. The Inflation Reduction Act is accelerating progress to meet America’s climate goals, build a clean energy economy, and strengthen energy security.

Work Cited

benjamjj24 — 2023-12-13 15:56:35 UTC

https://www.congress.gov/bill/117th-congress/house-bill/5376/all-actions-without-amendments?q=%7B%22search%22%3A%22inflation+reduction%22%7D&s=1&r=4

https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/16/fact-sheet-one-year-in-president-bidens-inflation-reduction-act-is-driving-historic-climate-action-and-investing-in-america-to-create-good-paying-jobs-and-reduce-costs/

https://www.cwla.org/the-presidents-fiscal-year-2023-budget-request/

The Department of Treasury

benjamjj24 — 2024-01-18 16:01:42 UTC

The Department of Treasury's mission statement is "Maintain a strong economy and create economic and job opportunities by promoting conditions that enable economic growth and stability at home and abroad; strengthen national security by combating threats and protecting the integrity of the financial system; and manage the U.S. government’s finances and resources effectively." The secretary of the Treasury is Janet Yellen. They implement this law by making sure the law will lower the costs of energy-saving property improvements.

The U.S. Securities and Exchange Commission

benjamjj24 — 2024-01-18 16:23:06 UTC

This cabinets mission statement is "The SEC strives to promote a market environment that is worthy of the public's trust and characterized by transparency and integrity. The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation." The secretary of the SEC is Vanessa Countryman. The SEC implements the law by making inflation adjustments to certain JOBS act rules.

The President's Budget Request

benjamjj24 — 2024-01-23 15:03:46 UTC

The overall total federal budget in 2023 was projected at $5.8 trillion. The president's justification for this request was so we could execute a new economic vision, reduce costs for families, reduce the deficit, and build a better America.

Impact on Domestic Policy

benjamjj24 — 2024-01-23 15:15:47 UTC

The Inflation Reduction Act's clean energy tax incentives were designed to provide place-based bonuses for investing in low-income communities. This act modifies and extends the clean energy Investment Tax Credit to provide up to 30% credit for qualifying investments in wind, solar, energy storage, and other renewable energy projects. This act provides at least $4 billion from the Advanced Energy Project Credit.