Less than two of 10 Americans polled believe the “Inflation Reduction Act will live up to its name. Most voters think it will add to inflation or make no difference at all.
We’ve been pounding our heads to conjure up a good alternative title for this $700 billion monstrosity. Ways and Means Ranking Member Kevin Brady has nailed it, we think. He calls the bill the “Not Made in America bill.” That’s because the higher tax rates on steel, coal, and capital-intensive industries will chase jobs and factories OUT of the U.S. Under Trump, America was insourcing blue-collar jobs. – particularly in energy. This bill rewards outsourcing.