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    HomeBreakingDem Rep Reveals Inflation Bill Was Really Only About Unpopular Environment Policies

    Dem Rep Reveals Inflation Bill Was Really Only About Unpopular Environment Policies

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    Republicans have warned that the “Inflation Reduction Act,” which Democrats claim is a “fix,” will not address the daily economic problems that Americans experience, such as inflation.

    According to the Democrats, the bill would permit Medicare to bargain prescription costs with pharmaceutical firms. However, the provision won’t start for another four years and will only cover ten medications by that time.

    Initiatives to invest in “domestic energy production” and promote “clean energy solutions,” such as investments in lowering greenhouse gas emissions, are also part of the bill that Biden signed into law.

    Additionally, this plan includes modifications to the Affordable Care Act and the IRS that were omitted from Biden’s Build Back Better Plan.

    The so-called Inflation Reduction Act is unlikely to lower inflation, claim 230 economists in a letter.

    “The economists wrote in the letter first obtained by Fox News Digital that the U.S. economy is at a “dangerous crossroads” and the “inaptly named ‘Inflation Reduction Act of 2022’ would do nothing of the sort and instead would perpetuate the same fiscal policy errors that have helped precipitate the current troubling economic climate,””  Fox News states.

    The $433 billion in proposed government spending is cited by the economists as evidence that these increases in taxes “would create immediate inflationary pressures by boosting demand, while the supply-side tax hikes would constrain supply by discouraging investment and draining the private sector of much-needed resources.”

    Elaine Luria, a Virginia Democrat, claims that the Inflation Reduction Act is now more of an environmental measure than a measure to deal with inflation.

    Luria stated at an event on August 24 sponsored by the BlueGreen Alliance, “The Inflation Reduction Act — that might be the name, but it’s a huge environmental bill that includes a lot of things, such as the tax credits necessary to make these kind of developments.”

    Luria stated on Twitter that “It was great being with local labor, environmental, and community leaders today in Chesapeake to highlight the investments being made in the offshore wind industry and workforce in Coastal Virginia.”

    On August 16, President Biden ratified the Inflation Reduction Act. The law also gives the EPA more authority over the energy sector and provides an electric vehicle tax credit of $7,500.

    The legislation increased the Internal Revenue Service’s budget by $80 billion, allowing it to hire 87,000 more agents.

    It was unexpected to hear the leading socialist Democrat oppose the hotly contested act last month.

    Senator Bernie Sanders chastised Democrats and Republicans for fighting over the act rather than collaborating on legislation that satisfies all Americans’ demands and solves the country’s issues.

    More on this story via The Republic Brief:

    “The American people are tired. They are hurting and they are begging their elected officials to respond to their needs,” Sanders stated.

    “The wages for the average American worker are lower today than they were 49 years ago, and clearly, the inflation of today is pushing the average person even further behind.”

    In a surprise statement, Sanders injected some common sense into the discussion by addressing the elephant in the room – The bill would do almost nothing to stop inflation. CONTINUE READING…

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