"On this vote the yeas are 50, the nays are 50, the Senate being equally divided, the Vice President votes in the affirmative. And the bill as amended, is passed," Harris announced.
The Inflation Reduction Act is a $739 billion spending plan that Democrats say tackles climate change, lowers drug prices, fixes healthcare, and raises taxes on the wealthy.
A report by the Congressional Budget Office stated that the Inflation Reduction Act would not lower inflation in any meaningful way in the upcoming years, as Fox News reported.
Of its $739 billion, $369 billion goes to climate change initiatives and $64 billion in funding goes to the Affordable Care Act. Democrats claim the size of the bill's budget will be made up by a 15 percent corporate minimum tax.
The massive spending package raises taxes for everyone except those making between $10,000 and $30,000 per year, despite Joe Biden saying he would not raise taxes on those making less than $400,000 a year.
Moody's Analytics chief economist Mark Zandi noted that the bill would only marginally reduce the Consumer Price Index, an economic gauge on the price consumers pay for goods and services, and even that slim savings won't be seen until the later half of the decade.
The phony Right VS Left paradigm exposed;
Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years
The National Debt Increased Under Trump Despite His Promise to Reduce It [Link]
In FY 2018: Debt Up $1,271,158,167,127; Feds Borrowed $8,172 Per Every American With a Job [Link]
But pay no attention to facts. Just keep the partisan hackery going.