Start by rinsing you rice in a fine mesh sieve. This will rinse away the extra rice starch that is on the outside of the rice grains. This will help your rice cook more evenly and prevent clumping/mushiness.
Set the Instant Pot to sauté function, add the oil and once it reads hot sauté the chopped onions for about 5 minutes. Add the rice and garlic and sauté for another 3 minutes. The rice will turn translucent and a little brown. Yum!
Turn the sauté function off and add in the chicken broth, salt, cumin, chili powder, onion powder and oregano. Give it a good stir and scrape up any browned bits from the bottom of the pot. Make sure that all the rice is in the liquid.
Gently pour the tomato sauce on top of the rice, but do not stir.
Pop the lid on the pot and set the pressure valve to seal. Set the pot to cook on rice mode for 12 minutes (or manual low pressure 12 minutes).
Do a quick release after cooking. Fluff the rice with a fork, incorporating the tomato sauce on top.
Pro Tip: If you like your rice cooked even more just pop the lid back on the pot for another 5 minutes and let the residual heat of the pot cook the rice further.
Notes
BROWN RICE: to use brown rice increase the chicken broth to 2 ¼ cups and set the pot to cook on high pressure for 15 minutes. FREEZING LEFTOVER RICE: let it cool, spread it out on a sheet pan that will fit in the freezer and freeze for about 2 hours. Then pop the rice in a freezer safe baggie. It will stay good in the freezer for about 3 months.To reheat pour the frozen rice in a skillet over medium-low heat with a couple tablespoons of water. Stir until it is warmed through.