We’re proud to announce that two of our CTUP senior fellows in economics – Casey Mulligan and EJ Antoni – will be testifying before the House Oversight Committee this afternoon on the issue of the Inflation Acceleration Act.
Spoiler alert: that law didn’t reduce inflation, but it did damage to the economy. One finding in Casey’s testimony needs to be highlighted. It shows that Biden’s regulatory thrust has acted as a de facto regressive tax that hurt poor families more than any other income group.
“Did the economic regulations have any benefits?” Casey asks. “Certainly—to large banks, trial lawyers, major health-insurance companies, big tech companies, and foreign drug manufacturers that profit when consumers must buy their expensive products because affordable alternatives are not available.”
So much for helping the little guy.