ABC News business reporter Alexis Christoforous explains how the Inflation Reduction Act will improve the economy and why Americans won’t feel the relief right away.
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It is going to destroy this Nation
Never vote for demoncrats ever again they are only in it for them selves. They get rich and we the little guys gets fucked.
Nope, it'll make inflation even worse. Thanks Joe, keep up the good work.
You might think it's going to destroy the middle class because this moron just lied to you at 1:30 saying the plan "will not raise taxes on anyone making over $400,000 a year". The exact opposite is true. It will NOT raise taxes on anyone making UNDER $400,000 a year. I had no idea ABC had such a far right agenda. Either that or they are unbelievably sloppy in their reporting and don't care how their words affect their viewers!
So if you're on here whining about your taxes increasing, you're either f–king rich and by no stretch part of the "middle class" or you believed this lie.
If you think, like Rubio and other wealthy republicans that we should do NOTHING because this plan might not work, then I suggest you come up with a plan of your own. Republicans have yet to do so. Their agenda is obstruction. That is all.
Some of this plan will have long term benefits, but it's is an outright lie to say none of it will benefit anyone now.
It's too bad ABC news can't be trusted to deliver unbiased, truthful news.
87,000 new armed IRS agents sure sounds like a new federal police force.
Voted democrats out.
There will never be inflation reduction from such nonsense, how ever with all the provisions, I would rename this. The tyranny and inflation act.
We don’t need healthcare, new Border wall, or, affordable housing, we just need 90k Armed Irs Agents to harass the Middle Class , as if the middle class hasn’t been through Enough!
Let’s go Brandon!!
The so called inflation act is two million words long, however there isn't a single part that will reduce inflation. It would take a world War to reduce inflation and boy are they asking for it!
It only reduces the deficit if they allow it to Sunset after 1 year if they do not it increases the deficit by 155 billion
Wow. What a joke
This bill will do nothing to help working people get ahead or help anyone get out of poverty. Meanwhile the fossil fuel industry and big pharma are reporting record profits. Three of the richest Americans have more wealth than the bottom 50 percent. Millions of people in this country can't afford dental care. Hardly anybody can afford a house these days. The economy is rigged in favor of the wealthy. The bill allows Medicare the power to negotiate prices on only ten drugs and not until 2026. This is a cruel joke! Bernie Sanders just reported that big pharma profits are up 90 percent. That's right! 9-0. That's why they can afford to pay 1,700 lobbyists to influence lawmakers to screw over the American people. And the Citizens United decisions gives them the power to spend as much as they want on smear ads to attack any lawmaker who votes against their greedy interests.
LIAR
Time to get that IRS jobs and audit our politicians. Our taxes are being wasted.
Nope cause I'm middle class worker that's going to reduce his job to avoid this BS!
This is another recipe for disaster by biden and his administration. Instead of creating more jobs and lowering gas prices he wants to put us in a trillion dollar debt.
This misnamed Act does nothing positive for the inflation crisis. The spend and tax Dems will now be collecting more money from the middle and lower class via IRS intimidation as the rich have smarter lawyers and accountants and the massive money for the green movement is the typical blackhole waste of funds. We create inflation and destroy our economy with the stupid attack on fossil fuels as if alternatives are readily available and China (#1 polluter) just builds more coal plants and gives us the finger.
No. And Jim Cramer poops his pants.
The Market has been pretty bad until today it decided to surge. Everybody was Practically Crying then. It kept dipping. That's what you get when you feel you can navigate the process on your own. Big thank to Hilder Ferguson. I'm not bothered with how bad the Market is because my assests are insured due to her advice and I still receive my profits
Will billions of dollars of new spending by the Government reduce inflation?? I have my doubts…
Aha! An inflation reduction act with no short term inflation reduction!
as i read the comments below. this is what came to mind>>>>>>> seem childish insults is all republicans have left.. they in no way propose anything better. the ONLY thing coming from republicans these days are childish insults. even dump has nothing better. the only things he has to say is whining about those who do not side with him and more childish insults. that's not a governmental party, it's a cult of immature people raging insults for lack of anything better. seriously. step back out of yaself and look at reality. stop allowing yourself to be told what to think and start thinking for yourself. check through multiple sources anything you wish to repeat as fact, Before calling it fact. then and only then, will something better happen to republicans.. until then don't forget, insults on the schoolyard at recess ends when class starts. it does not last forever. the hard knock school of reality will resume.
How do Democrat voters support tax increases on lower-middle class Americans? This is insane and criminal.
Another deceptively named bill, courtesy of our elected scam artists who know damn well what they're selling will not do what they claim. It shows the contempt they have for the American people.
They avoid the death penalty by printed more debt money and let the unborn next generation pay for that. This is straight criminal! It just like father selling they child's for food. 😐
Let's go the DNC way. You can start a fire with GASOLINE. All you need to put it off is add MORE GASOLINE! THIS will ARTIFICIALLY PROP UP the economy and delay bursting of the bubble. Are DEMOCRATS fighting INFLATION or RECESSION?