Changes

The '''Inflation Reduction Act''' is absurdly named [[Democrat]] legislation that passed the [[U.S. Senate]] in on August 7, 2022 by a vote of only 51-50, without a single [[Republican]] supporting it and the [[Vice President]] [[Kamala Harris]] having to cast the tie-breaking vote.

The '''Inflation Reduction Act''' is absurdly named [[Democrat]] legislation that passed the [[U.S. Senate]] in on August 7, 2022 by a vote of only 51-50, without a single [[Republican]] supporting it and the [[Vice President]] [[Kamala Harris]] having to cast the tie-breaking vote.  Overall this legislation spends a total of $430 billion, which its health care expenditures are included.<ref>https://www.nbcnews.com/politics/congress/senate-passes-sweeping-climate-health-tax-package-putting-democrats-cu-rcna41653</ref>

 

This bill is one of the largest tax increases in history, hiking corporate taxes substantially.  It is for that reason it is falsely named an inflation reduction  bill, because it will supposedly narrow the deficit.  In fact, raising taxes rarely reduces the deficit because economic activity decreases.

The bill wastes $369 billion on so-called [[climate change]] and energy-limiting provisions that, according to [[liberal]] cheerleaders for this boondoggle, "will transform how Americans get their energy and shape the country’s climate and industrial policy for decades."<ref>https://www.politico.com/news/2022/08/07/inflation-reduction-act-climate-biden-00050230</ref>

The bill wastes $369 billion on so-called [[climate change]] and energy-limiting provisions that, according to [[liberal]] cheerleaders for this boondoggle, "will transform how Americans get their energy and shape the country’s climate and industrial policy for decades."<ref>https://www.politico.com/news/2022/08/07/inflation-reduction-act-climate-biden-00050230</ref>