Biden’s Inflation Reduction Act, one year on: ‘It’s restoring the American dream’

WASHINGTON — The White House is celebrating the one-year anniversary of the Inflation Reduction Act — and making it the centre of President Joe Biden’s re-election hopes.

Democrats bill the $1.2-trillion climate, health and deficit-lowering measure as nothing short of an effort to resurrect the American dream. 

But in Canada, the multibillion-dollar magnitude of the U.S. incentives has led to a lot of sleepless nights over the last 12 months. 

The U.S. Treasury Department is highlighting how the spending has lured plenty of foreign investments — including from companies based in Canada.