Inflation Reduction Act:

The Inflation Reduction Act is the most ambitious climate spending package in US history.

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households that take steps to improve their energy efficiency stand to reap financial benefits.

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The package released through the Inflation Reduction Act will help in fighting climate change and promoting energy security.

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Shai Akabas, the director of economic policy said, 'The bill will make small steps to help bring inflation back to normal levels.'

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Democrats argued that the package included an estimated $437 billion new.

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In this package, $369 billion is dedicated to promoting green technology and curbing climate change.

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Republicans called the Inflation Reduction Act a "hoax on the American people."

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Republican Representative Nicole Malliotakis said "Calling it the Inflation Reduction Act is a lie"

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According to reports, the massive spending will be offset by the $737 billion in new revenue that the bill will reportedly create.

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