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.
President Joe Biden promised on Thursday that the so-called “Inflation Reduction Act” wouldn’t raise taxes on Americans making less than $400,000 a year. But, in fact, the bill would increase taxes collected from the American people by more than half a trillion dollars, affecting both rich and poor alike.