Inflation Cut Act Opposes Race To Abolish Climate And Drug Pricing Programs

Consider all the supply orders, hires, and contracts that result from just one decision. Based on what we’re hearing from the market, we believe there are hundreds of similar decisions currently under consideration.

Inflation Reduction Act ( Photo: Vox )

Businesses and political opponents have stepped up their campaign to destroy a large portion of the law before it goes into effect

A prefabricated home builder recently announced that all of its new homes will meet the Department of Energy’s Highly Efficient Zero Ready Home standard starting in 2024. Nearly a year later, however, his claim appears to be compromised. A growing list of corporate and political enemies has begun besieging legislation known as the Inflation Cut Act in hopes of eroding some of its key provisions before they take effect.

The sharp policy reversal will create a large degree of doubt and uncertainty around US economic policy

The Inflation Control Act, enacted almost a year ago by President Biden, is a stick with a range of tax incentives aimed at promoting clean energy technologies desperately needed to mitigate climate change. It’s a candy package. For Democrats, last year’s passage of the Inflation Control Act secured the last leg of Mr. Biden’s broader economic agenda. It secured the largest single push of climate change funding in U.S. history and introduced a number of long-anticipated healthcare affordability programs for seniors, including an insulin price cap for Medicare beneficiaries.

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