The IRA raised corporate taxes, which is a very effective means of fighting inflation.
The CBO called out the IRA for being ineffective because the IRA only reduced the deficit by a few hundred billion dollars, when trillions in relief were needed.
Sure, trillions of dollars in increased taxes would have killed the economy, but interest rate rises are also killing the economy.
The CBO called out the IRA for being ineffective because the IRA only reduced the deficit by a few hundred billion dollars, when trillions in relief were needed.
Sure, trillions of dollars in increased taxes would have killed the economy, but interest rate rises are also killing the economy.