In short, the IRA’s Medicare prescription drug reforms save the federal government $266 billion, but the savings are used to fund new climate spending, not reduce seniors’ pharmacy costs.
The analysis concludes that, “the Medicare savings are simply another means of financing the IRA’s $670 billion in clean energy tax credits and other spending on energy and the environment.”
https://www.americanactionforum.org/insight/the-medicare-budget-implications-of-the-inflation-reduction-act/