Begin by setting your Instant Pot to the “Sauté” function. Add the extra virgin olive oil and let it heat up. Once hot, add the minced onion and diced bell pepper. Sauté for about 3-4 minutes until they are softened and fragrant. Stir in the minced garlic and cook for an additional minute.
Next, add the rinsed brown rice, rinsed beans, broth, water, salsa, and taco seasoning to the pot. Stir everything together to ensure an even distribution.
Close the lid of the Instant Pot and make sure the valve is set to “Sealing.” Select the “Manual” or “Pressure Cook” setting and set the timer for 35 minutes on high pressure.
Once the cooking time is up, allow the pressure to release naturally for about 10-15 minutes. After that, carefully switch the valve to “Venting” to release any remaining pressure.
Open the lid and give the rice and beans a good stir. Fluff the mixture with a fork and serve warm, topped with your choice of cheese, sour cream, and cilantro if desired.