Commentary
In the midst of a recession, with inflation eating away an average of $6,800 in purchasing power from the incomes of families with two workers, the so-called Inflation Reduction Act would impose tax increases, manipulative federal subsidies, and price controls on every American family.
The bill would deepen the growing recession, continue to depress household incomes, and will continue to increase prices.
Release of the bill marks a major reversal for its key supporter, Sen. Joe Manchin (D-W.Va.), who in 2010 said, “I don’t think during a time of recession you mess with any of the taxes, or increase any taxes.”…