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Inflation Reduction Act: What Does The Senate Climate Change Bill Mean for Investors?

The Inflation Reduction Act of 2022 has been the talk of Washington for weeks. It appears the seemingly never-ending rounds of political negotiations haven’t been for naught, however. The bill managed to pass a polarized Senate 51-50, requiring Vice President Kamala Harris’s tie-breaking vote. The bill will face a likely warm reception from the House of Representatives before going to President Joe Biden to become law.

Should it pass, the bill would be one of the most progressive pieces of legislation in both U.S. and world history. Indeed, Biden’s landmark initiative touches on sectors far and wide, and may yield surprising effects both on Wall Street and your portfolio.

So, what exactly would the law do?

This post originally appeared at InvestorPlace.