New Study: Inflation Reduction Act Likely To Cost Taxpayers Trillions
by Kevin Killough Mar 18, 2025
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. [emphasis, links added]
At the time, a Senate one-pager summarized the law as costing taxpayers $369 billion, based on Congressional Budget Review (CBO) estimates.
A 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.
https://climatechangedispatch.com/new-study-inflation-reduction-act-likely-to-cost-taxpayers-trillions/
