Inflation Reduction Act of 2023

H.R. 812, titled the Inflation Reduction Act of 2023, seeks to fully repeal the Inflation Reduction Act of 2022. If passed, the bill would eliminate any remaining unspent funding authorized by the 2022 law, which originally directed federal investment toward climate change initiatives, healthcare subsidies, and IRS enforcement. For citizens, this would result in the termination of various programs established by the previous legislation, such as clean energy tax credits and certain provisions aimed at lowering prescription drug costs.