Just a small number of Americans believe that the Democrats’ Inflation Reduction Act (IRA) will help lower inflation across the country, according to a new poll from The Economist/YouGov. The survey was conducted Aug. 13–16, 2022, among 1,500 U.S. citizens age 18 and over and has a margin error of 2.9 percentage points adjusted for weighting 3 percentage…
Only 13 Percent of Americans Believe Democrats’ $369 Billion in Climate Spending Will Reduce Inflation: Poll
Manchin Promises to Ensure the IRS ‘Doesn’t Harass Anybody’ After $80 Billion Bulk-Up
Sen. Joe Manchin (D-W. Va.), a key sponsor of the recently-passed Inflation Reduction Act, has vowed to ensure that the Internal Revenue Service (IRS) “doesn’t harass anybody” after receiving an $80 billion appropriation in the bill. The IRS provisions of the Inflation Reduction Act were among its most controversial. The $80 billion allocated to the…
Inflation Reduction Act Won’t
August 18, 2022
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Commentary In January 1925, President Calvin Coolidge addressed the American Society of Newspaper Editors in Washington. In his remarks, Coolidge said, “the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing, and prospering in the world.” On Tuesday, President Biden returned from vacation to sign the misnamed “Inflation Reduction Act.” He…
Democrats Weaponize the IRS to Silence Critics
Commentary The public should be frightened that Democrats are passing new legislation to weaponize the already abusive Internal Revenue Service. For nearly a century, the IRS has been used by presidents and members of Congress to harass and incriminate political foes. In addition to collecting revenue to fund the government, the IRS is a hit…
Biden Revives Biggest Offshore Oil and Gas Lease Sale in America’s History
August 18, 2022
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Business & Marketseconomic policieseconomyenergyInflation Reduction ActLease Sale 257PoliticsUSUS News
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When President Joe Biden on Tuesday signed the Inflation Reduction Act into law, his signature opened the door to reinstating the largest oil and gas lease sale in U.S. history that was blocked by a court due to climate impact concerns. The Inflation Reduction Act includes provisions that direct spending, tax credits, and loans to…
Biden Revives Biggest Offshore Oil, Gas Lease Sale in US History
August 18, 2022
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Business & Marketseconomic policieseconomyenergyInflation Reduction ActLease Sale 257PoliticsUSUS News
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When President Joe Biden signed the Inflation Reduction Act into law on Aug. 16, his signature opened the door to reinstating the largest oil and gas lease sale in U.S. history, which had been blocked by a court because of climate impact concerns. The Inflation Reduction Act includes provisions that direct spending, tax credits, and…
How the Inflation Reduction Act Affects Americans
On Aug. 7, the U.S. Senate passed reconciliation bill H.R. 5376, the Inflation Reduction Act. The House of Representatives passed the reconciled bill on Aug. 12. The bill ended up being a slimmed-down version of President Biden’s $2.2 trillion “Build Back Better” bill. The original bill stressed a tightened social net and expanded green initiatives. Swing Democrat…
Former Treasury Department Official Claims Inflation Reduction Act Will Move US Toward ‘Neo-Marxist’ Economic Model
August 17, 2022
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A high-ranking official at the U.S. Department of Treasury has taken aim at the Inflation Reduction Act recently signed into law by President Joe Biden, alleging that the act which purports to prioritize environmental concerns is a means of “reengineering” the U.S. economy to favor “neo-Marxist” ideals. Monica Crowley, who served as assistant press secretary…
Inflation Reduction Act Is the Problem, Not the Solution
Commentary A central pillar of the just-passed Inflation Reduction Act is the $80 billion going to the IRS to hire some 87,000 new agents, doubling the current force, to chase down U.S. taxpayers who allegedly are not meeting their tax obligations. The rationale is we have a large national budget deficit—that is, government is bringing…
Critics Aren’t Buying Biden’s Pledge That Americans Earning Under $400,000 Won’t Pay a ‘Penny More’ in Taxes
August 17, 2022
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President Joe Biden said after signing the Inflation Reduction Act that no Americans making under $400,000 per year will pay more taxes despite the bill giving the IRS a massive cash injection for enforcement, prompting a flurry of criticism arguing that Biden’s pledge holds no water and that the tax agency will squeeze middle-income households…
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