From: lessgovt@gmail.com   
      
   The Inflation Reduction Act Flim-Flam   
   By Steven Law, Aug. 16, 2023, WSJ   
   It isn’t surprising that Biden is marking the Inflation Reduction Act’s   
   first anniversary by traveling the country trying to convince voters that the   
   law is working and the economy is getting better. Good luck to him.   
      
   A recent CNN poll found Americans still consider the economy the most pressing   
   issue facing the country. More than half of Americans think the economy is bad   
   and getting worse, and only 37% approve of Biden’s handling of the economy.   
   Just 30% approve    
   of his handling of inflation.   
      
   That doesn’t augur well for the credibility of Democrats and the legislation   
   Biden promised would “reduce inflation at the kitchen table” and   
   kick-start new economic growth. Every Democrat in Congress supported the bill.   
   It should doom them in 2024.   
      
   Republicans must aggressively articulate what is wrong with the legislation.   
   The most obvious point: After a year, the legislation hasn’t reduced   
   inflation. Food and consumer costs are increasing again. Rent is going up too.   
   Even Biden conceded that    
   the title is a misnomer, telling donors at a fundraiser, “I wish I hadn’t   
   called it that.”   
      
   His administration has admitted the act could cost Americans their jobs. Brian   
   Anderson, executive director of the administration’s interagency working   
   group on energy communities, says the law will hit workers in the fossil-fuel   
   industry especially    
   hard.   
      
   The fossil-fuel industry supports nearly 100,000 jobs in West Virginia and   
   more than 350,000 in Ohio, two states critical to control of the Senate. Yet   
   Anderson told the New York Times, “We’re standing right at the cusp of   
   potentially still leaving    
   them behind again.”   
      
   This isn’t parody. Biden is traveling the country championing a law he knows   
   will cost Americans their livelihoods. Even worse, what U.S. workers lose   
   through the legislation, foreign companies gain.   
      
   You might assume that American workers and companies would be the biggest   
   beneficiaries of Biden’s signature legislation, but the Journal reports that   
   foreign companies will reap the greatest benefit. Even firms with ties to the   
   Chinese Communist Party    
   could receive billions in tax credits under the legislation—all paid by U.S.   
   taxpayers.   
      
   And the price keeps going up. Democrats told Americans that the act would cost   
   $700 billion. It turns out that’s not even close. According to energy   
   research firm Wood Mackenzie, the law could cost $2.8 trillion—four times   
   the price quoted by    
   Democrats.   
      
   With this legislation, Biden and the Democrats sold hardworking Americans a   
   bill of goods. They promised an economic panacea; what we got is looming job   
   losses and higher prices. The more that voters learn about this law, the less   
   likely they will be to    
   support the politicians who enacted it.   
      
   Mr. Law is CEO of Senate Leadership Fund.   
      
   https://www.wsj.com/articles/inflation-reduction-act-bidenomics-   
   ra-2024-president-cost-of-living-energy-jobs-unemployment-fossil-fuel-318d577f   
      
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