Senator Johnson says 'Orwellian' inflation reduction act won't work
On Fox News, Sen. Ron Johnson said the Democrats' $739 billion Inflation Reduction Act is "Orwellian," as it will do nothing to help struggling Americans.
The U.S. inflation rate in July was 8.5 percent, while Gross Domestic Product (GDP) ended the month in recession.
It was pushed through by the Democrats with almost no Republican support and is alleged to lower rising costs, but the Wisconsin senator has cast serious doubt on it.
“It’s not going to reduce inflation. It’s going to increase businesses’ costs by increasing taxes on them. So businesses are going to recover those costs by increasing prices. That’s inflation,” said Johnson.
On Aug. 12, Johnson met with voters at the Wisconsin State Fair, where he discussed inflation and gas prices as the biggest concerns of his constituents.
“People can’t get by. They don’t have enough money to fill up the tank. They’re putting groceries back,” said Johnson, continuing, “this is what this election is about.”
President Biden signed the Inflation Reduction Act into law on Aug. 16, but White House officials have yet to say when the act would start reducing inflation or by what degree.
19 August 2022