The 'Inflation Reduction Act' narrowly passed US Senate with a 51-50 party-line vote. The bill now awaits President Joe Biden's desk for signing.
Although the bill has “inflation reduction” right there in the title, I don't ssee how its policies are can affect rising prices since they're authorizing $430B in spending.... Although at least it's in investments for climate change and clean energy. Can someone explain to me how this is expected to decrease inflation in the long term?