On Aug. 16, US President Joe Biden signed the Inflation Reduction Act into law after Vice President Kamala Harris cast a tie-breaking vote to pass the legislation by 51-50 in the Senate.
Biden described the law as a “victory for the American people against the special interests.” He added: “This administration began amid a dark time in America a once-in-a-century pandemic, devastating joblessness, clear and present threats to democracy and the rule of law, doubts about America’s future itself and yet we’ve not wavered, we’ve not flinched, and we’ve not given in.”
While Democrats celebrate what they consider a historic victory, the country is facing record-high levels of inflation, according to the Department of Labor, which announced last week that the prices of everyday goods had risen by 8.5 percent from July 2021. It is anticipated that by bringing in $739 billion in added revenue, the new law will reduce the deficit.
Although the legislation is called the Inflation Reduction Act, ironically, it will not lower the inflation rate, according to a Fox News report. “The Congressional Budget Office said the bill would have a negligible effect’ on inflation in 2022, and in 2023 its impact would range between reducing inflation by 0.1 percent and increasing it by 0.1 percent,” the report said.
One might wonder why they would name legislation the Inflation Reduction Act if it were not designed to do so. The answer is straightforward. The name was used for marketing purposes only, which means it was a way to convince moderate Democrats to support and pass the legislation.
Even the US liberal-leaning news networks were confused. “Let me ask you, it’s called the Inflation Reduction Act, but the Congressional Budget Office, which is nonpartisan, said that there would be a negligible impact on inflation this year and barely any impact on inflation at all next year. Isn’t it almost Orwellian?” ABC White House correspondent Jonathan Karl asked the White House, press secretary. Karine Jean-Pierre avoided the question by pointing out that the results would benefit the American people when billionaires in corporate America pay their fair share of taxes. Other journalists attempted to get straight answers from the Democratic lawmakers but with no luck.
The media will not get the answer until after Tuesday, Nov. 8, 2022. “The Inflation Reduction Act” sounds like a great slogan to motivate the Democratic base to cast their votes in an attempt to control the House and the Senate under the pretext of delivering progress and prosperity to American families, as Biden promised. The White House is trying to hide that the new law is, in fact, the most significant disguised climate bill in US history.
Angela Bradbery, a professor of public interest communications at the University of Florida journalism school, told Bloomberg that for the public, the title is “probably more confusing than anything.” She added: “It does seem kind of wacky and counterintuitive for the most consequential climate legislation ever to be called the ‘Inflation Reduction Act.’”
House and Senate Democrats accused their counterparts of ignoring the demands of the people by not voting for the bill in both houses. When the Build Back Better Act failed to get the support it needed, the progressive liberals lowered their demands and renamed their proposal. The Inflation Reduction Act will cost around $433 billion, most of which will be invested in climate provisions while increasing tax revenue by $739 billion.
Rising taxes on small and medium businesses will continue to push prices higher, increasing inflation and adding to people’s daily struggles. Until the public comprehends the truth, Democrats will continue bragging about legislation that has nothing to do with its name.
