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Episode 728Aug 11, 2022

We answer your questions about the “Inflation Reduction Act”

Will Amazon have to pay taxes now?

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WASHINGTON, DC - AUGUST 4: Senate Majority Leader Chuck Schumer (D-NY) speaks during a news conference about the Inflation Reduction Act outside the U.S. Capitol on August 4, 2022 in Washington, DC. Negotiations continue on the Senate budget reconciliation deal, which Senate Democrats have named The Inflation Reduction Act of 2022. The bill is expected to include $370 billion on energy and climate spending, roughly $300 billion in deficit reduction, three years of subsidies for Affordable Care Act premiums, some prescription drug reforms and tax modifications.
WASHINGTON, DC - AUGUST 4: Senate Majority Leader Chuck Schumer (D-NY) speaks during a news conference about the Inflation Reduction Act outside the U.S. Capitol on August 4, 2022 in Washington, DC. Negotiations continue on the Senate budget reconciliation deal, which Senate Democrats have named The Inflation Reduction Act of 2022. The bill is expected to include $370 billion on energy and climate spending, roughly $300 billion in deficit reduction, three years of subsidies for Affordable Care Act premiums, some prescription drug reforms and tax modifications.
Drew Angerer/Getty Images

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We’re getting lots of question about the Inflation Reduction Act. We know, weird name for the major climate and tax legislation the Senate passed earlier this week. Kimberly Adams and guest host Meghan McCarty Carino break down how Democrats plan to pay for it and what it might mean for prescription drug prices. Plus, the meaning behind the phrase “paycheck to paycheck.”

Here’s everything we talked about today:

If you have more questions about the Inflation Reduction Act, or anything else, send them our way. We’re at makemesmart@marketplace.org or leave a voice message at 508-U-B-SMART. 

The Team