Analysis suggests Inflation Reduction Act will reduce annual inflation by only 0.1 percentage points
The Senate-passed Inflation Reduction Act is expected to have almost zero impact on inflation, according to a new analysis.
A University of Pennsylvania Penn Wharton analysis released Friday revealed the Inflation Reduction Act of 2022 would do little to reduce the annual rate of inflation in the midst of the economic recession. The bill would only reduce annual inflation by 0.1 percentage point over the next five years.
The study estimated that the small inflation reduction would begin only "once major deficit-reducing provisions of the legislation are fully implemented, but the Act...