Biden’s Inflation Reduction Act Expected to Sink the Nation by a Few Billion Short of $5 Trillion By 2050 – IOTW Report

Biden’s Inflation Reduction Act Expected to Sink the Nation by a Few Billion Short of $5 Trillion By 2050

Just the News

When former President Joe Biden’s signature Inflation Reduction Act (IRA) passed in 2022, it did so along party lines with not a single Republican voting for it. At the time, a Senate one-pager summarized the law as costing taxpayers $369 billion, based on Congressional Budget Office (CBO) estimates.

new study from the Cato Institute finds that the law could cost as much as $4.67 trillion by 2050. That’s roughly 12 times the stated cost. The study also concludes that the subsidies are undermining innovation and driving investments toward subsidy farming rather than satisfying consumer demand.  More

1 Comment on Biden’s Inflation Reduction Act Expected to Sink the Nation by a Few Billion Short of $5 Trillion By 2050

  1. THE FACT THAT BIDEN’S IRA PASSED MUSTER AT ANY LEVEL IS LAUGHABLE AND CRIMINAL

    IN SOME WAYS, THE LEFT IS STILL WINNING IE LEFTIST JUDGES IMPEDING TRUMP FOR DEPORTATIONS BUT SILENT ON INVASIONS

    LET’S FACE IT, THE LEFT IS UPSIDE DOWN WITH NO MORAL COMPASS, MUCH LIKE IRAN’S BULLSHIT ABOUT THEIR NUCLEAR WEAPONS PLAN….THE BS ALWAYS SMELLS THE SAME

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