Biden Puts America In Crisis
Well, it’s official.
President Biden has officially signed into law the Democrats’ $740 billion reconciliation bill.
The package which is known as the Inflation Reduction Act has provisions within it that will increase taxes on big corporations, address climate change and lower the cost of prescription medicine.
Biden claims that the bill will lower the deficit and reduce inflation but he hasn’t been right about anything yet.
According to Axios, some other things the new bill will do is:
- Invests ~$370 billion into plans that promote clean energy and reduce greenhouse gas emissions.
- Increase the health care spending by $98 billion.
- Imposes a 15% minimum tax on corporations which make over a billion dollars yearly.
- Allows the federal health secretary to bring down medicine costs for Medicare.
Every time the Democrats have increased spending in the United States it has resulted in inflation going higher. Only time will tell if Biden’s “Inflation Reduction Act” actually lowers inflation.
