If it passes, the US Inflation Reduction Act would be a landmark legislative achievement. With provisions to accelerate America's clean-energy transition, control health-care costs, and restore some sanity to the tax code, it will not only curtail inflation but also bolster America's long-term competitiveness.
explains how the legislation would address several key longstanding problems facing America.
Months of high inflation, both in the United States and globally, have fueled intense debates about both root causes and potential solutions. Here, Jason Furman of Harvard University and James K. Galbraith of the University of Texas, Austin, offer opposing perspectives on what has become the year’s biggest economic-policy challenge.