WH Admits “Inflation Reduction Act” Will Barely Reduce Inflation

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Economic experts and Biden Administration officials have come to a census regarding the Inflation Reduction Act, agreeing that the $739 billion democratic spending plan will do next to nothing to combat inflated prices over the next decade.

The massive spending package, which raises taxes for everyone except those making between $10,000 and $30,000 per year and offers incentives for Americans to spend money converting their personal energy usage to depend on renewable energy, will offset inflation by only .33 percent by 2031.

Moody’s Analytics chief economist Mark Zandi has noted that the bill, recently agreed upon by Sens. Chuck Schumer and Joe Manchin, will only marginally reduce the Consumer Price Index, an economic gauge on the price consumers pay for goods and services, and even that slim savings won’t be seen until the later half of the decade.

https://thepostmillennial.com/white-house-admits-inflation-reduction-act-will-barely-have-an-impact?utm_campaign=64487