Lowe’s to pay $55 million in bonuses for hourly frontline workers amid high inflation
Biden signs Inflation Reduction Act into law
On Tuesday, President Joe Biden signed the Inflation Reduction Act into law and it includes the most substantial federal investment in history to fight climate change — some $375 billion over the decade — and would cap prescription drug costs at $2,000 out-of-pocket annually for Medicare recipients. It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic.
Lowe’s home improvement stores will pay $55 million in bonuses to hourly frontline workers to help offset high inflation, the company’s CEO said