Can the proposed Inflation Reduction Act deliver much-needed economic relief? In spite of some estimates from Congress, another research group is doubtful. The Penn Wharton Budget Model research tool quantifies the economic impact of government policies. It estimates that the bill would cut federal deficits by $248 billion over 10 years but have little impact on inflation, casting doubt on the bill’s promised economic benefits. The model uses deficit and revenue estimates that differ widely from those relied on by some members of Congress. “The Act would very slightly increase inflation until 2024 and decrease inflation thereafter,” the model stated. To learn more: https://whr.tn/3d4ANDM
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