Washington, D.C. - On the two-year anniversary of the Biden-Harris Administration signing what they call the Inflation Reduction Act (IRA,) Americans are still suffering. The IRA was a $369 billion payout for “energy security and climate change” and a promise to reduce the federal deficit. Passed along party lines and requiring a tie-breaking vote from Vice President Kamala Harris, the promise of the IRA remains unfulfilled two years later.
“Kamala Harris may be happy on this infamous anniversary, but America’s families have no reason to celebrate,” said Daniel Turner, Founder and Executive Director for Power The Future. “We’re all still paying the price for Kamala Harris voting to drive up the cost of everything in order to pay for her green agenda. If the Biden-Harris Administration really wanted to reduce inflation, they would stop printing more money and unleash American energy to generate more revenue and jobs at home.”
Results of the failed IRA include:
The cost of electricity is higher than when the IRA was signed into law.
Inflation is up more than 6 percent since the IRA was signed and more than 20 percent since the Biden-Harris Administration took office.
The Biden-Harris Administration promised the IRA would cause the federal deficit to “fall by more than $1.5 trillion” in 2022.
After supporting the IRA, Sen. Joe Manchin (D-WV) later blasted the Biden-Harris Administration for its failure.
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