By Shelby Myers
American Farm Bureau Federation
Formerly known as the Build Back Better Act (BBBA), the budget reconciliation bill, after extensive negotiations and reworking, was finalized as the Inflation Reduction Act (IRA) of 2022, totaling roughly $770 billion. Since the budget reconciliation process was used, the bill only needed a simple majority in the Senate to pass, meaning it only needed 51 votes, rather that the 60 votes often needed to avoid procedural blocks.