https://sputnikglobe.com/20220809/god-knows-what-else-biden-accused-of-not-knowing-whats-in-inflation-reduction-act-1099408362.html
'God Knows What Else': Biden Accused of Not Knowing What's in Inflation Reduction Act
'God Knows What Else': Biden Accused of Not Knowing What's in Inflation Reduction Act
Sputnik International
On August 7, the US Senate passed the Inflation Reduction Act, which, according to the Democrats, should lower healthcare costs for Americans and reduce the... 09.08.2022, Sputnik International
2022-08-09T07:46+0000
2022-08-09T07:46+0000
2022-08-09T07:46+0000
us
joe biden
inflation
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On Monday, US President Joe Biden, during a visit to view flood damage in Kentucky, commented on the Inflation Reduction Act, which was recently passed in the Senate. While the US president apparently tried to praise the bill, the phrasing he used had an unintended effect on the public."What we're doing today, what we passed yesterday, helping to take care of everything from health care to God knows what else," Biden said.After the POTUS' comments, Netizens noted that Biden seemingly admitted that he didn't really know what was in the Inflation Reduction Act.The act which was passed in the Senate on 7 August is now heading to the House of Representatives, which will come back from a recess on Friday.According to US media, there are three main changes that the Inflation Act introduces: an increase in corporate taxes, an increase in spending on green energy and an increase in subsidies for prescription drugs. In total, budget revenues will increase by $740 billion. The legislation aims to fight inflation by reducing the national debt, lowering energy and healthcare costs, lowering healthcare premiums and reducing carbon emissions by 40% by 2030, according to Democrats.The GOP has criticized the act, saying that it won't "bring the economy out of stagnation and recession," but that it will increase prices and taxes.
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'God Knows What Else': Biden Accused of Not Knowing What's in Inflation Reduction Act
On August 7, the US Senate passed the Inflation Reduction Act, which, according to the Democrats, should lower healthcare costs for Americans and reduce the federal budget deficit. The bill has been harshly criticized by Republicans, who claim that it will only deepen the recession in the country.
On Monday, US President Joe Biden, during a visit to view flood damage in Kentucky, commented on the Inflation Reduction Act, which was recently passed in the Senate.
While the US president apparently tried to praise the bill, the phrasing he used had an unintended effect on the public.
"What we're doing today, what we passed yesterday, helping to take care of everything from health care to God knows what else," Biden said.
After the POTUS' comments, Netizens noted that Biden seemingly admitted that he didn't really know what was in the Inflation Reduction Act.
The act which was passed in the Senate on 7 August is now heading to the House of Representatives, which will come back from a recess on Friday.
According to US media, there are three main changes that the
Inflation Act introduces: an increase in corporate taxes, an increase in spending on green energy and an increase in subsidies for prescription drugs.
In total, budget revenues will increase by $740 billion. The legislation aims to fight inflation by reducing the national debt, lowering energy and healthcare costs, lowering healthcare premiums and reducing carbon emissions by 40% by 2030, according to Democrats.
The GOP has criticized the act, saying that it won't "bring the economy out of stagnation and recession," but that it will increase prices and taxes.
