Biden admits Inflation Reduction Act has 'less to do with reducing inflation' -
on Thursday acknowledged his massive climate, health and tax law was not aimed at reducing inflation, despite repeated claims for months it would cure rising prices.told the crowd the so-called Inflation Reduction Act isn’t really targeting the cost of living.
said. “And so, we’re now in a situation where if you look at what we’re doing in the Inflation Reduction Act, we’re literally reducing the cost of people being able to make their — meet their basic needs.”said, citing negotiating medical prices as one example. “The Inflation Reduction Act is the strongest bill you can pass. It will lower inflation, cut the deficit, reduce health care costs,” he said in July 2022.boasted in September that it “cut costs for families, reduced inflation at the kitchen table.”
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