President Joe Biden acknowledged at a campaign event in Utah that the Inflation Reduction Act signed last year didn’t actually have much to do with reducing inflation.
” I wish I hadn’t called it that,” Biden said at the event in Park City Utah, according to the press pool report. “It has less to do with reducing inflation than it does providing for alternatives that generate economic growth.”
“And so, we’re now in a situation where if you take a look at what we’re doing in the Inflation Reduction Act, we’re literally reducing the cost of people being able to make their — meet their basic needs,” the president added.
The Inflation Reduction Act which was signed into law in August of 2022, received a lot of pushback from GOP lawmakers who alleged the legislation was filled with demands that had nothing to do with bringing inflation down.This act contained $740 […]
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