INFLATION REDUCTION ACT

Amendments

Enact (H.R. 5376), S3922 [3AU], S4070, S4145, S4170, S4171, S4172, S4178, S4179, S4180, S4181, S4184, S4185, S4186, S4187, S4190, S4191, S4192, S4197, S4199, S4200, S4221, S4222, S4225, S4226, S4231, S4234, S4237, S4238, S4243, S4244, S4245, S4247, S4248, S4249, S4250, S4252, S4253, S4256, S4257, S4292, S4295, S4296, S4297, S4298, S4301, S4306, S4310, S4311, S4312, S4313, S4316, S4317, S4320, S4321, S4322, S4323, S4324, S4325, S4326, S4327, S4329, S4331, S4334, S4335, S4336, S4337, S4338, S4339, S4341, S4342, S4343, S4344, S4345, S4346, S4347, S4348, S4349, S4350, S4360, S4361, S4376, S4397, S4399 [6AU], H7577 [12AU]

——— consideration of Senate amendment (H. Res. 1316), H7575 [12AU]

Analyses

Americans Don’t Support Surrendering Innovation for Democrats’ Drug Price Controls: Committee on Ways and Means (House) Republican staff, H7675 [12AU]

Inflation Reduction Act Budgetary and Macroeconomic Effects: University of Pennsylvania Wharton School, H7670 [12AU]

Articles and editorials

Climate Change’s Impact Intensifies as U.S. Prepares To Take Action, H7573 [12AU]

5 Gimmicks in Democrats’ Reconciliation Bill, H7675 [12AU]

For Older Americans, Health Bill Will Bring Savings and ‘Peace of Mind’, H7567 [12AU]

I.R.S. Says New Funding Won’t Mean More Audits for Middle-Income Americans, H7566 [12AU]

IRS Has 4,600 Guns and Five Million Rounds of Ammo—Will Dem Bill Grow Arsenal?, H7666–H7668 [12AU]

IRS Plans To Hire 10,000 Workers To Relieve Massive Backlog, H7566 [12AU]

Over 230 Economists Warn Manchin’s Spending Bill Will Perpetuate Inflation, H7650 [12AU]

Tilting at Climate Windmills, H7674, H7683 [12AU]

Trump Allies Are Attacking Biden for a Plan To Hire 87,000 New IRS Agents That Doesn’t Exist, H7566 [12AU]

Bills and resolutions

Enact (H.R. 5376): consideration of Senate amendment (see H. Res. 1316), H7707 [12AU]

IRS: prohibit additional funding to be used to audit certain taxpayers (see S. 4817), S4541 [12SE] (see H.R. 9143), H8385 [7OC]

——— provide accountability for funding provided under Inflation Reduction Act (see S. 5100), S6740 [16NO] (see H.R. 9341), H8587 [17NO]

——— rescind certain balances and redirect them to U.S. Customs and Border Protection (see H.R. 9023), H8221 [28SE]

——— rescind certain funds appropriated under Inflation Reduction Act (see S. 4798), S4479 [7SE] (see H.R. 9092), H8370 [30SE]

——— rescind funds appropriated under Inflation Reduction Act and report on improving efficiency of procedures and processes of services (see H.R. 8769), H7735 [2SE]

Medicare: repeal prescription drug price control provisions (see S. 4953), S5051 [27SE]

Taxation: prevent excise tax on repurchase of corporate stock from taking effect (see H.R. 8853), H7881 [15SE]

——— rescind certain balances made available to IRS and permanently increase standard deduction (see H.R. 8983), H8118 [26SE]

Letters

CBO analysis of Inflation Reduction Act amendment to limit IRS funding relative to taxpayer audits: Leigh Angres, CBO, H7571, H7649, H7666 [12AU]

Inflation Reduction Act drug price control policies: House of Representatives GOP Doctors Caucus, H7682 [12AU]

Inflation Reduction Act prescription drug reforms: Dan Leonard, Association of Accessible Medicines Biosimilars Council, H7677 [12AU]

Inflation Reduction Act provisions impact on launch prices of new drugs and introduction of new generic drugs: Phillip L. Swagel, CBO, H7649, H7665 [12AU]

IRS funding relative to taxpayer audit rates: Charles P. Rettig, IRS Commissioner, H7571 [12AU]

——— Janet L. Yellen, Sec. of the Treasury, H7570, H7572 [12AU]

Provisions: several business organizations, H7679 [12AU]

——— several economists, H7697 [12AU]

——— several natural gas and oil industry representatives, H7669 [12AU]

Lists

Committee on Taxation (Joint) staff working on H.R. 5376, provisions, S4954 [22SE]

Congressional Budget Office staff working on H.R. 5376, provisions, S4954 [22SE]

Organizations opposing H.R. 5376, provisions, H7678 [12AU]

Votes recorded by proxy on H. Res. 1316, consideration of Senate amendment to H.R. 5376, provisions, H7577 [12AU]

Votes recorded by proxy on previous question to H. Res. 1316, consideration of Senate amendment to H.R. 5376, provisions, H7575 [12AU]

Votes recorded by proxy on Senate amendment to H.R. 5376, provisions, H7704 [12AU]

Memorandums

Estimate of Share Distribution of Inflation Reduction Act Additional Tax Under Corporate Minimum Financial Statement Income Tax: Thomas A. Barthold, Committee on Taxation (Joint), H7668 [12AU]

Inflation Reduction Act Corporate Minimum Financial Statement Income Tax Impact on Federal Fiscal Year Budget Receipts: Thomas A. Barthold, Committee on Taxation (Joint), H7668 [12AU]

Motions

Enact (H.R. 5376), S4070, S4170, S4171, S4179, S4180, S4182, S4183, S4184, S4186, S4191, S4193, S4194, S4195, S4196, S4199 [6AU], H7646 [12AU]

Papers

Evidence Base on the Impact of Price Controls on Medical Innovation: Tomas J. Philipson and Troy Durie, University of Chicago, H7671–H7673 [12AU]

Remarks in House

Biden, President: evaluation of administration relative to energy policy, H8728 [2DE]

Clean Energy and Sustainability Accelerator: establish, H7702 [12AU]

Committee on Energy and Commerce (House): tribute to staff working on H.R. 5376, provisions, H7690 [12AU]

Congress: accomplishments of 117th Congress, H8328 [30SE], H8501 [15NO], H8517 [16NO], H9742 [14DE]

Dept. of the Interior: offshore oil and gas leasing funding, H7701 [12AU]

Enact (H.R. 5376), H7259 [28JY], E1230 [7DE], E1302 [15DE]

——— consideration of Senate amendment (H. Res. 1316), H7561–H7577 [12AU]

——— Senate amendment, H7577–H7704 [12AU], E838 [12AU], E856 [16AU], E868 [23AU], E879 [26AU]

EPA: establish program to award grants to eligible entities to purchase, and as applicable install, zero emissions port equipment and technology, H7681 [12AU]

——— Methane Emissions Reduction Program funding, H7686, H7689 [12AU]

——— rulemaking authority to regulate greenhouse gas emissions under Clean Air Act, E868 [23AU]

Impact, H7745, H7746 [13SE], H7788, H7790, H7795 [14SE], H7846, H7847, H7848, H7863–H7868 [15SE], H7947, H7948, H7950, H7959, H7960 [19SE], H7974, H7981 [20SE], H8123 [28SE], H8228, H8298 [29SE], H8497 [15NO], H8705 [1DE]

IRS: prohibit additional funding to be used to audit certain taxpayers, H7660 [12AU]

Medicare/Medicaid: reduced part B premium, H8123 [28SE]

Public debt: recognize national debt as threat to national security, H8299–H8305 [29SE]

Taxation: establish tax credit for production of electricity using nuclear power, H7665 [12AU]

——— extend and modify credit for carbon oxide sequestration, H7668 [12AU]

——— increase energy credit for solar facilities placed in service with low-income communities, H7664, H7701 [12AU]

——— prohibit additional funding for IRS enforcement activities, H7866–H7868 [15SE]

——— prohibit additional funding for IRS enforcement activities, operations support, Office of Tax Policy, and U.S. Tax Court, H7568–H7573 [12AU]

——— provide credit for sustainable aviation fuel, H7674 [12AU]

——— provide incentives for renewable energy and energy efficiency, H7664, H7702 [12AU]

——— provide investment tax credits for energy storage technologies, H7664 [12AU]

——— provide manufacturing investment tax credit and production tax credit for manufacturing facilities that produce offshore wind turbine components, H7665 [12AU]

Virgin Islands: St. Croix south shore redevelopment funding, H8599 [29NO]

Remarks in Senate

Biden, President: evaluation of administration, S5118 [28SE]

——— evaluation of administration relative to climate change, S4465 [7SE]

——— evaluation of administration relative to economy, S4893 [21SE], S6951 [5DE], S6976 [6DE], S7110 [13DE]

——— evaluation of administration relative to energy policy, S4894 [21SE]

BLM: adjust certain royalty rates, minimum bid amounts, and rental rates for leasing on Federal lands for oil and gas drilling, S4198 [6AU]

——— funding to finalize outstanding permitting activities for nickel and cobalt mining projects, S4198 [6AU]

Business and industry: eliminate subsidies for domestic and foreign fossil-fuel production and taxpayer-funded research and development, update below-market royalty rates, and restrict access to coronavirus relief, S4149, S4192 [6AU]

China: prohibit foreign nationals associated with China from participating in Dept. of Agriculture conservation programs, S4196 [6AU]

Congress: accomplishments of 117th Congress, S4051 [6AU], S4417 [6SE], S4959–S4961 [22SE], S5116 [28SE], S7044 [8DE], S7180 [14DE]

Corp. for National and Community Service: establish Civilian Climate Corps to help communities respond to climate change and transition to clean economy, S4182 [6AU]

Crime: funding to address rise in violent crime, S4184, S4185 [6AU]

Democratic Party: national agenda, S4419 [6SE]

Dept. of Energy: prohibit export of crude oil from Strategic Petroleum Reserve to China, S4191 [6AU]

Dept. of HHS: provide tax credits for health care coverage to low-income adults in States that have not expanded Medicaid, S4190, S4191 [6AU]

Dept. of Homeland Security: construction of continuous wall or fence along southern U.S. border funding, S4197 [6AU]

——— establish procedure for terminating Surgeon General determination to suspend certain entries and imports from designated places relative to coronavirus public health emergency, S4179 [6AU]

——— funding to provide resources to detain and deport higher number of illegal aliens who have been convicted of crime, S4199 [6AU]

——— U.S. Customs and Border Protection chemical screening devices to detect dangerous drugs funding, S4198 [6AU]

Dept. of Justice: prohibit funding to target parents or classify them as domestic terrorists based on engagement with public school officials, S4194, S4195 [6AU]

Dept. of the Interior: require additional oil and gas lease sales in certain States, S4172 [6AU]

——— require completion of pending coal leases, S4186 [6AU]

——— require oil and gas lease sales in Gulf of Mexico region of Outer Continental Shelf, S4184 [6AU]

Dept. of the Treasury: authority to issue regulations relative to base erosion and anti-abuse tax with certain credits, S4166, S4167 [6AU]

——— authority to issue regulations relative to corporate alternative minimum tax foreign tax credits, S4166 [6AU]

——— guidance relative to transferable tax credits to promote development of clean energy technologies, S4166 [6AU]

——— Payments in Lieu of Taxes program funding through reduction in home energy performance based, whole-house rebates funding, S4185 [6AU]

District of Columbia: disapprove actions relative to school immunization requirements, S4194 [6AU]

Drugs: provide funding to federally-qualified health centers to offer insulin or injectable epinephrine at discounted prices, S4193 [6AU]

Economy: address growing inflation, S4195 [6AU]

Enact (H.R. 5376), S3729 [27JY], S3749–S3752, S3766–S3768, S3772 [28JY], S3794, S3795, S3797 [1AU], S3837, S3839, S3842, S3853–S3856, S3857, S3858, S3869–S3871 [2AU], S3873, S3874–S3877, S3901, S3994–S3998 [3AU], S4004–S4009, S4015–S4017, S4023, S4026–S4031 [4AU], S4051–S4201, S4210–S4212 [6AU], S4434 [6SE], S4461, S4462 [7SE], S4506 [8SE], S5171 [28SE]

——— motion to commit, S4180, S4183, S4184, S4186, S4194–S4199 [6AU]

——— unanimous-consent agreement, S4198 [6AU]

EPA: prohibit funding for certain activities under Clean Air Act relative to greenhouse gas emissions, S4178 [6AU]

Health: define ‘‘pregnancy’’ to limit Federal maternal and infant-related program resources to biological females, S4196, S4197 [6AU]

Immigration: provide additional funding to implement Title 42 public health authorities allowing for immediate expulsion of persons or property to avoid introduction of communicable disease such as coronavirus from foreign country, S4178 [6AU]

Impact, S4420, S4423 [6SE], S4452 [7SE], S4500 [8SE], S4529 [12SE], S4545, S4546, S4549 [13SE], S4586, S4587, S4588, S4596 [14SE], S4628, S4633 [15SE], S4809–S4811 [19SE], S4880, S4882, S4895 [21SE], S4943, S4946, S4953, S4962 [22SE], S5038 [27SE]

IRS: prohibit additional funding to be used to audit certain taxpayers, S4180 [6AU], S4461, S4462 [7SE], S4593 [14SE]

——— prohibit enforcement hiring funding, S4190 [6AU]

——— prohibit funding to hire new employees until certain percentage of current workforce returns to in-person operations, S4183 [6AU]

——— provide accountability for funding provided under Inflation Reduction Act (S. 5100), S6869 [30NO], S7277 [19DE]

——— rescind certain funds appropriated under Inflation Reduction Act (S. 4798), S4460 [7SE]

——— rescind certain funds appropriated under Inflation Reduction Act (S. 4798), unanimous-consent request, S4460, S4461 [7SE]

Medicare: establish cap on costs for covered prescription drugs, S4145–S4147, S4170 [6AU]

——— exclude certain categories of drugs from price controls for covered prescription drugs, S4181 [6AU]

Medicare/Medicaid: lower prescription drug prices, improve transparency of pharmaceutical prices and transactions, lower patients’ out-of-pocket costs, and ensure accountability to taxpayers, S4065 [6AU]

——— provide for coverage of dental and oral health, vision, and hearing care, S4177 [6AU]

National Environmental Policy Act: codify certain reforms to regulations and implementation, S4182 [6AU]

Power resources: biodiesel and renewable diesel incentive funding, S7278 [19DE]

——— national energy policy, S4836–S4839 [20SE]

Schools: child opportunity tax credit funding to address pandemic learning loss through reduction in IRS enforcement funding, S4186, S4187 [6AU]

Senate: tribute to staff working on H.R. 5376, provisions, S4953 [22SE]

Taxation: advanced manufacturing tax credit, S4166 [6AU]

——— biofuels production tax credit, S4166 [6AU]

——— child tax credit expansion funding through increase in corporate tax rate, S4189, S4190 [6AU]

——— commercial buildings energy-efficiency tax credit, S4167 [6AU]

——— corporate alternative minimum tax, S4166 [6AU]

——— eliminate reinstatement of Superfund program taxes, S4171 [6AU]

——— establish production and investment tax credits related to production of clean hydrogen, S4165, S4166 [6AU]

——— establish tax credits for geothermal energy, S4212 [6AU], S5171 [28SE]

——— heavy commercial electric vehicle tax credit, S4167 [6AU]

——— modify electric vehicle tax credit, S4198 [6AU]

——— modify maximum capital gains tax rate to provide inflation adjustments for certain tax benefits, S4183 [6AU]

——— prohibit harmful small business taxes, S4199, S4200 [6AU]

——— prohibit tax credit for electric vehicles produced by or containing components produced by slave or child labor, S4198 [6AU]

——— prohibit tax increases resulting in higher consumer prices for gasoline, heating oil, and other energy sources, S4171 [6AU]

——— repeal limitation on deduction for State and local taxes and extend loss limitation policy, S4200, S4201 [6AU]

——— restore intangible drilling costs tax deduction for oil and gas companies, S4198 [6AU]

Warren, Senator: tribute to staff working on H.R. 5376, provisions, S4470 [7SE]

Reports

Dept. of the Treasury—American Families Plan Tax Compliance Agenda (excerpt), H7661 [12AU]

Reports filed

Consideration of Senate Amendment to H.R. 5376, Provisions: Committee on Rules (House) (H. Res. 1316) (H. Rept. 117–451), H7707 [12AU]

Rulings of the Chair

Enact (H.R. 5376), S4197 [6AU]

Statements

New Schumer-Manchin Bill Will Supercharge Long History of IRS Abuses: Committee on Ways and Means (House) Republican staff, H9998 [22DE]

Tables

Distributional effects of certain provisions: Committee on Taxation (Joint), H7655–H7657 [12AU]

Top 10 industries where average annual wages are less than 75k per year, H7673 [12AU]

Texts of

H. Res. 1316, consideration of Senate amendment to H.R. 5376, provisions, H7561 [12AU]

H.R. 5376, provisions, H7577–H7646 [12AU]

S. 5100, IRS Funding Accountability Act, S6742 [16NO]