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Larry Kudlow: The Manchin-Schumer bill would increase federal spending quite a bit
Larry Kudlow: Inflation Reduction Act does not reduce inflation
FOX Business host Larry Kudlow voices his concerns about the consequences of the Inflation Reduction Act on Thursday’s ‘Kudlow.’
Save America. Kill the bill. Turns out the "Inflation Reduction Act" has no inflation reduction. That’s according to the CBO in response to an inquiry from Budget Committee Ranking Member Senator Lindsey Graham.
Mr. Graham will join us in just a few moments, but the CBO reports that the Manchin-Schumer bill has a negligible impact on inflation.
So, I wonder: if it has no impact on inflation, which contradicts its Orwellian title "Inflation Reduction Act," then why are we doing this? America would be way better off not passing this bill. Just saying!
By the way, the CBO says the proposed new 15% corporate minimum tax would reduce the incentive for those corporations to invest by limiting the tax benefit of accelerated depreciation and by reducing the after-tax return on new investment. Well, we've been saying that on a daily basis for the last several weeks.
MANCHIN-SCHUMER 'INFLATION REDUCTION ACT' IS REALLY THE MANUFACTURING REDUCTION ACT