This bill increases debt in the short term. All debt reduction is back loaded. It wonât happen.
After more than a year of expressing his concerns about the impact of inflation, Sen. Joe Manchin, D-W. Va., has signed off on a massive tax and spending bill that only would push prices for working families even higher.
www.heritage.org
tion.
Unfortunately, the âInflation Reduction Actâ doubles down on the same irresponsible fiscal policy that has caused inflation: All of the new government spending is upfront, while the deficit-reducing revenues are backloaded.
The result would be higher short-term deficits and higher inflation.