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WEKU
WEKU
Politics
Juliana Kim

What the Inflation Reduction Act does and doesn't do about rising prices

The massive climate, health care and tax bill making its way toward President Biden's desk is called the Inflation Reduction Act. But how much does it actually do to slow consumer prices that are climbing at their fastest pace in about 40 years?

After months of negotiations, a 755-page version of the bill passed the Senate on Sunday and will soon be up for vote in the House, where it is expected to pass.

The White House says the roughly $700 billion package will address inflation in two key ways: by lowering energy and health care costs for families and by helping to bring down the deficit.

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