Commentary This article is the last of a three-part series on the new Inflation Reduction Act (IRA), which takes up the proposed new health care rules in which the government lodges its inflation reduction claims. The first part of this series examined the law’s lavish spending on green initiatives. The second part assessed its dubious…
Washington’s Flawed New Law: Part 3
September 2, 2022
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Experts Weigh in on Recession Talk’s Impact on Midterms, Biden
September 1, 2022
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2022 Midterm ElectionsBusiness & MarketseconomyinflationInflation Reduction ActPoliticspresident joe bidenrecessionUS
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News Analysis From the Roe v. Wade reversal and the Jan. 6, 2021, breach of the U.S. Capitol to the FBI’s search of Donald Trump’s Mar-a-Lago residence and President Joe Biden’s busy August, a long list of topics are on the minds of Americans. The economy, many political strategists believe, remains the number-one issue for…
More Armed IRS Agent Videos Surface Amid Fears of Tax Enforcement ‘Army’
A new video shows college-aged students in an IRS recruitment program carrying mock guns and preparing to make arrests of suspected tax criminals, following shortly after President Joe Biden signed into law a bill that would give billions of dollars to the agency in order to conduct more frequent and scrupulous tax audits. The video…
Inflation Can ‘Take Years, Not Months,’ to Cool Off: Former CBO Director
August 30, 2022
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Business & MarketsCBOeconomyhigh inflationinflationInflation Reduction ActstagflationU.S. interest rate hikesUSUS News
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Former Congressional Budget Office Director Douglas Holtz-Eakin has warned that the high inflation rate troubling American citizens isn’t going away anytime soon and is here to stay for several years. In an interview with Fox, Holtz-Eakin cited Federal Reserve Chairman Jerome Powell’s statement on Aug. 26 about inflation. “One of the things that Powell emphasized…
South Korea Seeks International Cooperation Over US Inflation Reduction Act
August 30, 2022
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Asia & PacificBusiness & Marketseconomic policiesInflation Reduction ActInternationalSouth KoreaThe United StatesUSWorld
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South Korea said on Aug. 30 that it will pursue “international cooperation efforts” while seeking strategic negotiations with the United States over the recently enacted Inflation Reduction Act (IRA). President Joe Biden signed the IRA into law on Aug. 16, which requires electric vehicles (EVs) to be assembled in North America to qualify for tax…
Democrats Obstruct Their Electric Vehicle Push With Surprising Tax Credit Requirements
Whether wanted by consumers or not, the federal government’s electric vehicle (EV) transition is in full swing, and Democrats hyped the recent passage of the Inflation Reduction Act (IRA) as an accelerant to this evolution. Further, gas prices’ continual pounding of people at the pump spurred consumers’ EV interest to 36 percent, according to a 2022…
Biden’s Pyrrhic Legislative Victories
August 26, 2022
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Build Back BetterBusiness & MarketsBusiness ColumnistsChips for AmericainflationInflation Reduction ActInvestmentOpinionPolicies & ImpactsrecessionUSUS NewsUS productivityViewpoints
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Commentary In August, the Biden administration and Congress celebrated their third legislative victory in less than a year. As with Russia’s invasion of Ukraine, they are celebrating Pyrrhic victories. As Russia’s invasion will seriously undermine Russia’s living standards, President Joe Biden’s massive government expansion will stifle U.S. growth for years to come. It often takes…
Democrats, Manchin Split Over Climate Deal That Led to Passage of Inflation Reduction Act
Democrats are facing heightened inter-party disputes with Sen. Joe Manchin (D-W.Va.) over a backroom deal that helped win Manchin’s support for the Inflation Reduction Act. Specifically, Manchin agreed to lend his support to the bill—crucial for the bill’s eventual passage through the evenly divided Senate—in exchange for consideration at a later date of separate legislation…
Washington’s Flawed New Law: Part 2
August 26, 2022
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Commentary This article is the second of a three-part series on the problems with the recently passed Inflation Reduction Act (IRA). The first in this series introduced the act and took up its focus on Washington’s preferred green initiatives. This second part will take up the revenue sources that the law dubiously claims will more than…
‘Environmental Justice’ Bill Advances Fundamental Transformation of Federal Government
August 24, 2022
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environmental justiceFederal GovernmentInflation Reduction ActPolicies & ImpactsPoliticsSocial IssuesUSUS News
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In his 2022 State of the Union address, President Joe Biden announced the Justice40 Initiative, a program intended to “transform” federal programs and advance “environmental justice.” On Aug. 16, Biden advanced that agenda by signing the 2022 Inflation Reduction Act (IRA) into law, which, among other things, earmarked $60 billion for “environmental justice.” Notably, the…
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