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<blockquote data-quote="Box Ox" data-source="post: 5649480" data-attributes="member: 48469">August 13, 2022<a href="https://www.npr.org/2022/08/11/1116229743/inflation-reduction-act-questions-answered" target="_blank">The Inflation Reduction Act: What the bill will actually mean for inflation : NPR</a>&quot;The nonpartisan Congressional Budget Office, which scored the bill, also determined that the bill will have a &quot;negligible effect&quot; on inflation this year and next.&quot;<h3>If the impact on inflation is limited, then what else does it do?</h3>The package includes $369 billion in <a href="https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf" target="_blank">new spending</a> to reduce greenhouse gas emissions, invest in clean energy technologies and extend subsidies for the Affordable Care Act.The bill also plans to bring in more than $300 billion in new revenue, <a href="https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf" target="_blank">Democrats say</a>, by imposing a 15% minimum tax on corporations making over $1 billion and through a new excise tax on corporate stock buybacks.&quot;The way to think about this is not about inflation at all, but about the tradeoffs between helping people who need more help, especially in health care and reducing carbon, versus the potential impact on future investment,&quot; Smetters [faculty director of the Penn Wharton Budget Model] said.&quot;</blockquote>

[QUOTE="Box Ox, post: 5649480, member: 48469"] August 13, 2022 [URL='https://www.npr.org/2022/08/11/1116229743/inflation-reduction-act-questions-answered']The Inflation Reduction Act: What the bill will actually mean for inflation : NPR[/URL] "The nonpartisan Congressional Budget Office, which scored the bill, also determined that the bill will have a "negligible effect" on inflation this year and next." [HEADING=2][SIZE=5]If the impact on inflation is limited, then what else does it do?[/SIZE][/HEADING] The package includes [B]$369 billion[/B] [B]in [/B][URL='https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf'][B]new spending[/B][/URL] to reduce greenhouse gas emissions, invest in clean energy technologies and extend subsidies for the Affordable Care Act. The bill also plans to bring in more than $300 billion in new revenue, [URL='https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf']Democrats say[/URL], by imposing a 15% minimum tax on corporations making over $1 billion and through a new excise tax on corporate stock buybacks. [U]"The way to think about this is not about inflation at all,[/U] but about the tradeoffs between helping people who need more help, especially in health care and reducing carbon, versus the potential impact on future investment," Smetters [faculty director of the Penn Wharton Budget Model] said." [/QUOTE]

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