This week, the U.S. Senate passed the Inflation Reduction Act. If you grew up on Schoolhouse Rock, you’ll know that next the bill goes to the U.S. House. Because the House is controlled by the Democrats, it is expected to pass at the end of this week. President Biden would then sign the bill into law, likely late this week or next week.

So WTF is the Inflation Reduction Act— and more importantly, how will it affect you? Nicole explains.