President Biden framed the Inflation Reduction Act as a historic investment in clean energy that would create new jobs for middle class Americans.
Months of tense negotiations followed on Capitol Hill as Democrats struggled to bring Manchin and Sinema on board. Along the way, Democrats agreed to pass a separate infrastructure bill rather than tie it to the larger social spending packages, and pushed it through with Republican support in late 2021.
The Inflation Reduction Act includes more than $300 billion in spending on energy and climate provisions to boost renewable energy and lower U.S. greenhouse gas emissions.But the messy process and the final contents of the law are a double-edged sword for Biden. "The ACA is here to stay. Red states and blue states have both benefited considerably from it," Frank said. He added that the Inflation Reduction Act's provision lowering drug prescription costs was a"significant accomplishment."
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