At a recent event, Biden admitted that the Inflation Reduction Act’s name was named inaccurately, but it’s unclear whether this was an intentional admission on his part, or this was a slip up and symptom of his cognitive decline.
Breitbart News reports:
Biden’s remark came at an event in Westby, Wisconsin, where he was touting his Bidenomics investments. He called the Inflation Reduction Act “the most significant climate change law ever,” adding, “by the way, it is a $369 billion bill, it’s called the–we we we should’ve named it what it was.”
Instead, the bill, which is a scaled-down version of the failed Build Back Better Act legislation, is “the single most significant legislation to combat climate change in our nation’s history,” as the Biden-Harris Department of Treasury touted in a release in November 2022.
The legislation narrowly escaped the Senate via a 51-50 party-line vote, with Vice President Kamala Harris serving as the tiebreaker. The Democrat-controlled House then advanced the legislation in a partisan fashion.
Harris’ tie-breaking vote has come back to bite her on the campaign trail, as she’s championed policies that contradict the bill that wouldn’t have made it to Joe Biden’s desk without her. One example is the “No Tax On Tips” initiative that the Trump campaign has accused her of plagiarizing, despite the IRA making tips taxable in the first place. On her official Facebook page, she shared a video of her casting the historic vote on its anniversary, but deleted it shortly after.
Breitbart News continues:
Financial experts have singled out the negative aspects of the nearly trillion-dollar bill. For instance, BlackRock CEO Larry Fink said in April that it is hard to see inflation coming down to two percent, pointing to a slew of spending from Biden and the Democrat-led 117th Congress.
“I think two is a hard number. We have restructured how we frame our economic policy. We have a trillion dollars of fiscal stimulus in the CHIPS Act, the Infrastructure Act, and the [Inflation Reduction Act],” Fink emphasized during an appearance on CNBC’s Squawk on the Street. “We have very poor legal immigration policies that have restricted, and that is all inflationary in jobs.”
Fox News’s Larry Kudlow, who served as the Trump administration’s director of the National Economic Council, immediately criticized the bill.
“There is not one single iota, scintilla, whit, shred or morsel of economic growth incentives in this bill. Not a single comma, semicolon, dotted ‘i’ or crossed ‘t’ of growth. Nothing.”
This from the professional liar.