Schumer-Manchin So-Called 'Inflation Reduction Act' Might Lower Inflation—in 2026
By Bob Hoge | Aug 04, 2022 3:30 PM ET
When I wrote about the agreement West Virginia Senator Joe Manchin made with Senate Majority Leader Chuck Schumer on July 27 regarding the Inflation Reduction Act, I predicted that the actual details of the bill wouldn’t be known immediately and would trickle out over time. As Nancy Pelosi once famously said, “We have to pass the bill so that you can find out what is in it — away from the fog of the controversy.” Although she wasn’t talking about the Inflation Reduction Act in that instance, the same principle would apply.
It’s only years later that you find out $100 million was earmarked for the Barney Frank Underwater Basketweaving Society.
As more details of the Schumer-Manchin pact come out, it becomes even harder to discern just what the heck Manchin, who’s mostly funded by out-of-state voters and only won his last election by three percentage points, was thinking. He’s talked tough on inflation, ruled out abolishing the filibuster, and has oftentimes sounded like he’s considering moving to the Republican Party. Not so with this bloated behemoth of a bill.
The National Review explains:
…a closer look at a fresh analysis of the bill from the Congressional Budget Office shows that over 90 percent of the promised deficit reduction in the bill would come after 2026 — meaning it would do absolutely nothing to help reduce the current inflation problem.
more
https://redstate.com/bobhoge/2022/08/04/schumer-manchin-so-called-inflation-reduction-act-might-lower-inflation-in-2026-n606966
