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  The Inflation Reduction Act of 2022 is a bill that has been put forth for consideration by the 117th United States Congress in July 2022. It aims to reduce inflation by lowering prescription drug costs, reducing the deficit, and investing in domestic energy production while promoting clean energy alternatives. Senators Chuck Schumer (D-NY) and Joe Manchin are the authors of the budget reconciliation measure (D-WV). The measure was the outcome of discussions surrounding the planned Build Back Better Act, which had undergone extensive revisions and reductions from its original draft due to resistance from Manchin. The Build Back Better Act was amended with it, and the legislative text was used in its place. According to Schumer and Manchin, the plan would raise $739 billion and authorize spending of $370 billion on energy and climate change, $300 billion to reduce the deficit, three years of Affordable Care Act subsidies, price-lowering prescription drug reform, and tax reform. A...