President Joe Biden signed the Inflation Reduction Act into law on Tuesday at the White House. The sweeping $750 billion health care, tax reform, and climate change legislation will give Medicare the power to negotiate prices on some drugs for the first time, fight climate change and encourage for energy efficient practices, and enact a 15% minimum tax on large corporations and a 1% tax on stock buybacks along with boosting the Internal Revenue Service’s ability to better audit wealthy individuals and big businesses. The bill’s changes to current drug prices and on making the largest companies pay more of their fair share on taxes will likely have the biggest impact on small businesses in the future.