Biden’s Press Secretary was confronted on the “Orwellian” nature of the “inflation reduction act” considering the act may not actually reduce inflation despite its name.
The Press Secretary fumbled over her words when the question was asked by ABC’s “This Week” host John Karl.
“I appreciate the question. We’ve actually addressed this.. this … in the CBO … it was the top line number that shows, uh, that it will have the money from — remember how we’re doing this too, it’s making sure that billionaires in corporate America are paying their fare share.” She said.
This seems quite similar to the “bipartisan infrastructure bill” that in truth wasn’t bipartisan, and appeared to be in large part a climate change bill.
Even CBS is willing to admit that the inflation reduction act likely won’t hold up to its name. The outlet admitted this in their article titled: One thing the Inflation Reduction Act may not do: Lower inflation.
Big shocker! The inflation reduction act also aims to address climate change and in top of this taxation. The Congressional budget office however found that the act will likely have “negligible” effects on inflation.
The act dedicated nearly $400 Billion to Climate Change proposals. This is nothing more than an increase in reckless spending which is the root cause of the inflation crisis.
In addition, the bill will allocate $80 billion to the IRS so that the organization can higher more auditors. The government can’t keep up with their spending habits and printing money has proven to be a problem, so why not steal the difference from hardworking Americans?
Some believe the act will raise inflation, and some believe it will decrease it but most reports indicate that regardless of which direction inflation heads in as a result of this bill, it won’t be by much.
Penn Wharton Budget Model, a group of economists and data scientists at the University of Pennsylvania is one group that argues that the effect will be null. The group says that the impact it will have on inflation “is statistically indistinguishable from zero.”