Inflation Reduction Act: 8/12/22 - $740B Bill PASSES, Biden signs it into law!
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BK The Great
Veteran
Why you say that? Lowering our expenses is the same as reducing inflation
If it lowers everything then ok cool, but how long will it be effective?
I see through your “inquiry”
BK The Great
Veteran
You either broke living check to check or you’re a republican that don’t want this passed.
BK The Great
Veteran
Uhh things are expensive, who doesn’t want things cheaper? I ain’t no Republican fukk that side for life.
Dark Brandon really fukked around and made life better for Americans across the nation 
ADevilYouKhow
Rhyme Reason
Dark Brandon really fukked around and made life better for Americans across the nation
Dark Brandon and the Democrats are looking out for the well-being of our families and country. I can’t fault them. We’re getting results
David Dayen explains the bill really well with Sam here. Recommend you guys listen.
Great comment on the video by BoweryDoll:
- I've commented on this before and, after watching the segment with David today, I'm compelled to say it again -- please, PLEASE center voices from vulnerable communities of color and low wealth white communities who are being hidden and erased from the discussions and critiques about the flaws in the IRA. The "Big Green" environmental organizations celebrating this Act couldn't be more tone-deaf and myopic. John Boyd, the president of the National Black Farmers Association, along with Tara Houska, Indigenous tribal lawyer and climate organizer, and Anthony Rogers-Wright, a Black climate organizer and tremendous environmental justice activist, would be enlightening voices to uplift around this critical mess. There is a huge rift between Big Green groups and grassroots environmental organizations working with frontline communities of color and poor white communities. John Boyd could shine a brilliant light on how Black, Indigenous and other farmers of color have been totally shafted by the repeal of a section in the 2021 American Rescue Act that is now tucked inside the IRA. As a result, Black, Indigenous and other farmers of color will not receive the supportive debt relief they were promised and those millions are now possibly being routed to farmers in Ukraine. We haven't heard enough about how BOTH Manchin AND Schumer received hundreds of thousands of dollars from an energy company invested in the Mountain Valley Pipeline project. BOTH of them. This totally overshadows the deal they made, but it hasn't been put in any sort of spotlight that I've seen. The receipts are definitely out there. EPA provisions were holding up the project, but now Manchin will have his dream fulfilled. I've enjoyed listening to MR since the early, early days on Air America, but it's so important to have more diverse voices in the discussions and debates on a regular basis. So many of us are being shut out of the mainstream news media gaze and there is too much vital knowledge being overlooked and erased. Our voices matter in the climate justice fight and so many, many others. Please hear us. Left is Best.
Specifically, the bill outlines $3.1 billion to help “distressed borrowers of direct or guaranteed loans administered by the Farm Service Agency,” and $2.2 billion for a program to provide assistance for farmers that experienced discrimination in Department of Agriculture (USDA) farm lending programs prior to January 2021.
I'm having trouble seeing how the hell either of those provisions are going to go to farmers in Ukraine.
What exactly did they want to be done considering the Republicans and courts were blocking the money from going to Black farmers specifically?
These guys have huge platforms. They just don't accept that they aren't good spokesmen.
OfTheCross
Veteran
The Inflation Reduction Act Primarily Impacts Top 1 Percent of Taxpayers
In a new analysis , the Tax Policy Center finds the tax provisions of the Inflation Reduction Act (IRA) are highly progressive. Taxes would rise...
In a new analysis, the Tax Policy Center finds the tax provisions of the Inflation Reduction Act (IRA) are highly progressive. Taxes would rise by $6,060 (0.3 percent of after-tax income) in 2023 for households in the top 1 percent—with incomes greater than about $1 million. Households in the top 0.1 percent (those with over $4.4 million of income) would bear an additional burden of $41,580 (0.4 percent of after-tax income), TPC estimates.
The IRA includes a mix of tax cuts and tax increases that are incorporated into TPC’s analysis. Most of the revenue is generated by the corporate minimum tax and the tax on stock buybacks, as well as an extension of the limitation on excess business losses of noncorporate taxpayers. The bill would also implement several clean energy tax breaks for businesses and individuals. TPC’s analysis does not include the potential benefits of drug pricing reform or other spending provisions.
TPC’s primary analysis also excludes a provision of the bill that would extend for three years the enhanced premium tax credit (PTC) for Affordable Care Act (ACA) insurance plans. However, we did produce a supplemental table for 2023 only that includes the PTC alongside the IRA’s other tax provisions.
