MP - What Stock Could Benefit Most From the Inflation Reduction Act?
On August 7, the U.S. Senate passed the Inflation Reduction Act, authorizing $740 billion in spending. Days later, the legislation passed the House of Representatives as well -- and it is now on its way to President Joe Biden to sign.
That's a lot of federal money flooding into the economy. Of that total, $369 billion was earmarked for U.S. energy security and fighting climate change. So which stocks will benefit the most? Clearly, green stocks will emerge as big winners from this legislation.
What's more, the U.S. is worried about China and access to rare earth metals. Ultimately, I think this law is going to be very bullish for MP Materials (NYSE: MP) . Let's see why.
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What Stock Could Benefit Most From the Inflation Reduction Act?