In this episode, our KPMG panel discuss how the Democrats pulled off the Inflation Reduction Act, as well as some early observations regarding the potential application of the AMT provision.

On 16 August 2022, President Biden signed into law H.R. 5376 (commonly referred to as the “Inflation Reduction Act of 2022”) – the budget reconciliation legislation that includes significant law changes related to tax, climate change, energy, and health care.

The bill now will be enrolled and sent to the president for signature.

The House is expected to consider the legislation on August 12, 2022.