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The Inflation Reduction Act of 2022 (IRA) is a landmark [1] [2] United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy.
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The primary impact was in fiscal year (FY) 2021, with a smaller impact in FY 2022. No Republicans in the House of Representatives or the Senate voted for the Rescue Act. Biden followed-up with the Infrastructure Investment and Jobs Act, signed into law in November 2021. It authorized infrastructure investment of $1 trillion total over a decade ...
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Financial regulation. Reserve requirements are central bank regulations that set the minimum amount that a commercial bank must hold in liquid assets. This minimum amount, commonly referred to as the commercial bank's reserve, is generally determined by the central bank on the basis of a specified proportion of deposit liabilities of the bank ...
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