Short answers, pulled from the story.
President Joe Biden signed the Inflation Reduction Act into effect on the 16th of August 2022 inside the State Dining Room of the White House. The legislation became law after Vice President Kamala Harris cast a tie-breaking vote during the Senate session on the 7th of August 2022 and the House approved the measure three days later with a 220 to 207 vote.
The Inflation Reduction Act raised an estimated $738 billion through tax reform and prescription drug price changes over ten years according to the Congressional Budget Office and Joint Committee on Taxation. A selective 15% corporate minimum tax rate applied to companies with more than $1 billion in annual financial statement income generated $222 billion while increased tax enforcement efforts added another $181 billion to federal coffers.
First selected drugs announced in September 2023 included treatments for diabetes including Farxiga Fiasp/NovoLog Januvia and Jardiance as well as blood disease medications Eliquis Xarelto and Imbruvica. Heart failure treatments Entresto and Farxiga appeared alongside psoriasis therapies Stelara and Enbrel along with rheumatoid arthritis medication Enbrel and Crohn's disease treatment Stelara.
States receiving the largest per capita investments ranging between roughly $7,000 and $12,000 included Wyoming North Dakota West Virginia and Louisiana all Republican-held territories. Texas received investment projections totaling $131 billion creating approximately 116,000 jobs while California saw $117 billion generating 140,000 new positions.
John Podesta served as the Biden administration's primary overseer implementing the Inflation Reduction Act through the White House Office on Clean Energy Innovation and Implementation established by Executive Order 14082 from 2022 to 2024. The Environmental Protection Agency awarded $250 million from the Climate Pollution Reduction Grants program to 82 cities and 45 states updating their climate action plans from June 2023 to February 2024.