On Aug. 16, 2022, President Biden signed into law H.R. 5376 – Inflation Reduction Act (IRA) of 2022. In general, this legislation provides incentives for investment in domestic energy production and manufacturing and the reduction of carbon emissions by roughly 40% by 2030. The bill will also finally allow Medicare to negotiate for prescription drug prices and contains the following key tax provisions
Read More: 2022 Inflation Reduction Act Summary
President Biden closed out 2022 by signing a legislative package into law that included the
Securing a Strong Retirement Act of 2022—or as it is more commonly known: SECURE 2.0.
Supporters of the bipartisan legislation say it will increase access to 401(k) and individual
retirement plans, especially among low- to middle-income workers. It is also expected
to provide incentives for U.S. workers to save for retirement and make it easier for small
businesses to offer retirement plans.