Although our legacy media have dutifully described the Chuck Schumer (D-N.Y.)/Joe Manchin (D-W.Va.) climate bill as the “Inflation Reduction Act,” it’s no stretch to call that a misnomer.
President Joe Biden signed the CHIPS and Science Act on Aug. 9, allocating a $280 billion funding package toward boosting domestic semiconductor manufacturing and various research endeavors.
Americans for Tax Reform (ATR) has listed several taxes in the so-called “Inflation Reduction Act” that passed the Senate on Sunday — which Democrats now hail as a “climate” bill, since the Congressional Budget Office says it will hardly reduce inflation.
On Monday, the Biden administration declared in separate announcements that it would provide $5.5 billion more in combined foreign aid and military weaponry to the wartorn nation of Ukraine as it continues to fight Russia’s invasion.