The Biden administration’s climate czar, John Kerry, conceded on Thursday that the Democrats’ so-called Inflation Reduction Act has little to do with fighting inflation.
The “President’s Special Envoy for Climate Issues” made the awkward admission during a speech at the International Energy Agency’s Global Clean Energy Action Forum in Pittsburgh.
After saying the Inflation Reduction Act was a “completely misnamed piece of legislation,” Kerry admitted he was “not sure how much it has to do with inflation,” Fox News reported.
However, the career politician called the bill “amazing” for aggressively pushing the Biden administration’s radical climate agenda.
“The most important parts of the IRA are very simple – production and investment tax credits,” Kerry said, according to Fox News. “That, I think, will do more than almost anything else in the bill.”
Don Lemon has the audacity to suggest to the royal analyst that the monarchy should pay reparations, and immediately regrets it
“We don’t need a government making decisions about winners and losers. The market will choose,” he added. “You, inventors and investors, will help drive that forward, and we’ll get there.”
Ironically, while praising President Joe Biden’s efforts to combat climate change, Kerry admitted that “no government is going to solve this problem” because they simply don’t have the money to do so.
Accordingly, the user of gas-guzzling private jets said the climate agenda could only be effected by the private sector.
“The private sector is the entity that has trillions of dollars at its disposal,” Kerry said.
Would a Republican Congress handle inflation better than a Democratic one?
Yes: 100% (1 votes)
No: 0% (0 votes)
Rather than curb inflation, as its name suggests, the Democrats’ Anti-Inflation Act is driving hundreds of billions of dollars in additional spending at a time when Americans are being crushed by historically high prices for food, gas, electricity, rent and everything else.
Last month, the Congressional Budget Office said the bill would not reduce inflation for the foreseeable future.
“In calendar year 2022, the CBO estimates that passage of the bill would have a negligible impact on inflation,” agency director Phillip Swagel wrote in an Aug. 4 letter to Republican Sen. Lindsey Graham of South Carolina, the senior member the CBO the Senate Budget Committee.
“In calendar year 2023, inflation would likely be between 0.1 percentage point lower and 0.1 percentage point higher than under current law, according to CBO estimates,” Swagel said.
The CBO director also pointed out that the Anti-Inflation Act would actually increase inflation and reduce labor force participation by giving people an incentive not to work.
“Furthermore, passage of the bill would reduce some people’s incentives to work, largely because of improved health insurance subsidies, which are depressing production and driving up inflation,” Swagel wrote.
Wow! A bill that increases inflation and unemployment. Sounds like a surefire recipe for a crippling recession.
In short, the absurdly-named Democrats’ Inflation Reduction Act is a just, radical climate law masquerading as an economic stimulus package.
Ultimately, it will eat up our tax dollars while doing next to nothing to help struggling Americans manage their skyrocketing grocery bills and gas bills.
https://www.westernjournal.com/john-kerry-just-said-public-already-knows-inflation-reduction-act-hides-dirty-secret/ John Kerry Just Said What the Public Already Knows