What Does the Inflation Reduction Act of 2022 Mean?

The inflation reduction act of 2022 was, as we know, a stripped down reiteration of Biden's earlier big legislative initiative. And then alongside the inflation reduction act, we have seen the chips act, the American Rescue Plan Act, in the infrastructure bill. What does that tell us about these competing theories in American politics? Does it signify that portions of the liberal policy making elite are not wedded to soft monetarism and deficit hawkyry like they might have been a decade ago? And then lastly, to what degree will the IRA and these other measures actually get at, solve for these supply side problems?