Inflation Reduction Act Has Been an Enormous Benefit to Nation’s Economy
Opinion Advocates for ideas and draws conclusions based on the author/producer’s interpretation of facts and data.
I am mystified that there are Americans who don’t believe how healthy and robust our economy has become due to President Biden’s passage of the Inflation Reduction Act.
Let me start with jobs. The August job report stated that there were a net of 187,000 new jobs, unemployment down to a near record low of 3.5 percent and average hourly earnings up strongly at 0.4 percent, and 4.4 percent over the past 12 months.
President Biden’s 13.4 million jobs are more than seven times as many jobs in the last 16 years of the last three Republican presidencies – combined!
Here are the 11 top benefits of the Inflation Reduction Act: 1) Allowing Medicare to negotiate lower drug prices; 2) caps out-of-pocket prescription drug costs for older adults; 3) prevents higher health care costs; 4) cracks down on Big Pharma greed; 5) cuts carbon pollution dramatically; 6) lowers energy costs; 7) creates American jobs; 8) invests in communities that suffer the most from environmental and health hazards; 9) cracks down on wealthy tax cheats; 10) helps build a fairer tax code; and 11) fights inflation and drives down deficits.
The passage of the Inflation Reduction Act is a win for everyday Americans and a staggering loss for corporate special interests.
What am I missing with these everyday Americans who don’t see how much healthier our economy is under the leadership of President Biden?
Karen Sevell Greenbaum
Croton-on-Hudson
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