Will the Inflation Reduction Act actually reduce inflation? If so, how? : Planet Money : NPR

Drew Angerer/Getty Images

Drew Angerer/Getty Images

It was called the Inflation Reduction Act, but there was a lot going on beneath the surface.

The landmark new law signed by President Joe Biden will cut prescription drug spending, bolster the IRS’s ability to track down tax dodgers, and most importantly: It will fund one of the most expensive and ambitious climate change agendas ever approved by Congress.

All under the guise of “reducing inflation”.

So… does this bill really fight inflation? In this episode, we’ll break it down. And learn how to sniff out inflationary (or deflationary) pressures, wherever they lurk.

This episode was produced by Willa Rubin, edited by Molly Messick, and designed by Gilly Moon.

music: Fruit Salad, priest & Staying up all night

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