On the recordAugust 1, 2024
Mr. President, in a couple of weeks, we will mark the second anniversary of one of President Biden's signature measures, the so-called Inflation Reduction Act. I am sure the White House will be celebrating, but Americans shouldn't be because Democrats did the country no favors with this legislation. In fact, the bill reads like a roster of bad Democrat policies. It is hard to know where to even begin: Perhaps with the bill's misleading--really--outright deceptive title. Democrats called the bill the Inflation Reduction Act, yet even before the bill had been signed into law, the nonpartisan Penn Wharton Budget Model was noting the bill's impact on inflation was ``statistically indistinguishable from zero.'' In other words, the Inflation Reduction Act would do nothing-- nothing--to reduce inflation. President Biden confirmed this fact a year later when he noted--this is President Biden speaking: Well, we've put ourselves in a position where we passed the most comprehensive environmental piece of--it's called the Inflation Reduction Act. It has nothing to do with inflation. That is President Biden. Let me just repeat that, Mr. President. It's called the Inflation Reduction Act. It has nothing to do with inflation. President Biden's own words. Why Democrats chose to name it that when it had nothing to do with reducing inflation is a good question.…





