Congress must terminate the Inflation Reduction Act
One of the first things a new Congress or administration must do after taking office is to reverse the mistakes made by the outgoing leadership. After all, that’s what voters want. It’s why the change in leadership occurred in the first place.
As 2025 begins, there is plenty to undo. Some things, such as the Biden family pardons, can’t be undone. However, others, such as the shameful Biden “Inflation Reduction Act,” can and must be tossed in the trash immediately. Biden-era policies that ended up hurting the economy are just what the voters opposed when they returned Republican control of the White House and Senate and allowed them to retain the House of Representatives.
This Inflation Reduction Act was always misnamed. Democratic lawmakers must have selected the name because so many of us have Individual Retirement Accounts and love them. As the stock market goes up, we feel richer. But Biden’s IRA only ended up making us poorer.
The effort was costly. The act contained green tax credits, spending using the tax code, according to the Congressional Budget Office, that cost $270 billion over a 10-year window. The © Washington Examiner
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