Listen to US President Joe Biden and other proponents of the recently signed Inflation Reduction Act, and you would think that America has single-handedly rescued the world from inflation, climate change, and corporate greed. Unfortunately, all of the law's big promises shrivel under scrutiny.
STANFORD – US President Joe Biden’s Inflation Reduction Act (IRA) contains a variety of provisions focused on subsidizing renewable energy and health insurance, and taxing corporations and the wealthy. It is the product of a contentious year-long intraparty struggle, following Senators Joe Manchin and Kyrsten Sinema’s refusal to go along with Biden’s multi-trillion-dollar “Build Back Better” bill.
STANFORD – US President Joe Biden’s Inflation Reduction Act (IRA) contains a variety of provisions focused on subsidizing renewable energy and health insurance, and taxing corporations and the wealthy. It is the product of a contentious year-long intraparty struggle, following Senators Joe Manchin and Kyrsten Sinema’s refusal to go along with Biden’s multi-trillion-dollar “Build Back Better” bill.