What the Inflation Reduction Act does and doesn't do about rising prices
NPRWhat the Inflation Reduction Act does and doesn't do about rising prices Enlarge this image toggle caption Kevin Dietsch/Getty Images Kevin Dietsch/Getty Images The massive climate, health care and tax bill making its way toward President Biden's desk is called the Inflation Reduction Act. "And that's why even Democrats and Republicans, former Treasury secretaries, economists across the board have said that this bill will make a positive impact on inflation while also tackling some of the biggest and long-standing issues facing our country, like prescription drugs and like tackling climate change," said Brian Deese, director of the National Economic Council, in an interview this week with NPR's Morning Edition. The bill will make small steps to help bring inflation back to normal levels, said Shai Akabas, the director of economic policy at the Bipartisan Policy Center. "It will generally work in the right direction and help the Federal Reserve, which has the primary responsibility for getting a hold of inflation," Akabas said.