Biden Touts Economic Agenda On Inflation Reduction Act Anniversary But Impact Remains Unclear
- President Biden and Democrats celebrated the one-year anniversary of the Inflation Reduction Act, touting its climate change provisions, healthcare benefits, and economic impact.
- The act allocated hundreds of billions towards clean energy, electric vehicles, and manufacturing investments, spurring announcements from companies.
- However, economists say other factors like Federal Reserve policies better explain the drop in inflation over the past year.
- Public awareness of the act remains low and Biden's economic approval rating has not significantly improved.
- Senator Joe Manchin, who helped pass the bill, has criticized the Biden administration's implementation and threatened to repeal parts of it.
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