What to know about the Inflation Reduction Act
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- Опубликовано: 4 окт 2024
- The Inflation Reduction Act of 2022 committed $500 billion over the next decade toward clean energy and health care investments. NBC News' Noah Pransky breaks down the details.
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#Inflation #Economy #Biden
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If this bill doesn’t drop the cost of living like houses apartments where in be trouble there still going up it’s out of control
Some other basic needs did go down for me in Massachusetts at least. My groceries for a family of 5 went from almost $400 weekly to less than $300. Electricity cost also seem to be stable. One thing I didnt enjoy though is the crazy interest rates.
cost of housing is heavily based on local factors
The bill didn't reduce inflation, the fed raising rates and crippling the economy did. Can we please have a president who understand economics and not a career politician?
It did create a lot of new jobs, but yeah rates are crazy right now.
But I LOVED the lower taxes for solar, here in MA I got over $4,000 in returns because of my solar project earlier this year.
We had one. But mean tweets hurt people's feelings.
@@EdmacZ and killed 5 people in the failed coup
@@David-bh1rn
Lol no
Rent, groceries, and gas are all up and wages flat, what did the Inflation Reduction Act do again?
That it had nothing to do with reducing inflation? Who knew?
If you play it again, he never said that. He said it was about so many other things, too.
@@linguaphile42 What is the name of the bill?
@@rack9458 It's the Inflation Reduction Act, but was originally Build Back Better. So beyond how it will help inflation as manufacturing comes back to the U.S. and we pay less for products and avoid the supply chain issues we had during Covid, it also is on track to bring down emissions lower than was originally outlined. They had hoped to bring emissions to 25-31% below 2005 levels by 2030, and now it's looking like they will be at 33-40% below. I'm sure Biden would have preferred the BBB title, but that doesn't mean that reducing inflation isn't part of it. Capping Medicare drug costs at $2000/yr is also in there, as is negotiating rights for dealing with big pharma, and many Americans with the ACA insurance saw premiums fall. Those are costs coming down, but not necessarily inflation. Now inflation has come down dramatically over the last year, to 2.3%, and while that doesn't mean that we are all rich and happy, it does mean we're going in the right direction after just a year of this legislation being enacted. I like that the wealthy and corporations paid for it all with higher taxes.
@@linguaphile42how is he helping "supply chain issues" when in the same breath he's making it more expensive to start oil leases which effects supply and demand
@@dthrust9037 His plan helps supply chain issues by investing in manufacturing in the U.S. for the products we had trouble getting during Covid -- like computer chips. That was holding up production of new cars, so they were more expensive, so people bought used cars, and they became more scarce and more expensive, too. Not being dependent on imports for crucial things helps supply chain issues. Right?
One year later and inflation isn’t any better. Gas prices are ridiculous and prices for groceries and rent are still up…
The American people never know what's in the bills they create we just have to pay for them.
I’m reading through it right now on congress dot gov and referenced this video to see how it was portrayed in the media
The only thing you need to know is it doesn't not work
The Inflation Reduction Act (IRA) isn't just a policy; it's a paradigm shift. Signed by President Biden in 2022, it's not just about inflation, as the name suggests. It's a three-pronged attack aimed at:
Decarbonizing the US economy: Imagine a wave of green energy sweeping the nation, powered by $370 billion in tax credits, loans, and grants.
Reshoring supply chains: Think of critical materials and technologies being made in America again, reducing dependence on foreign powers.
Positioning the US as a global climate and industry leader: Picture the US at the forefront of the clean energy revolution, creating jobs and boosting its economic muscle.
Economists see the IRA through a specific lens:
Tax credits as fuel: Imagine factories humming with activity, churning out solar panels and wind turbines thanks to IRA-backed incentives. (Image: A vibrant solar panel factory)
Green jobs sprouting: Think of over 100,000 new jobs in clean energy, from Georgia's $2.5 billion solar investment to General Electric's expansion in New York. (Image: A map of the US with green dots representing new clean energy jobs)
Global implications: The IRA isn't operating in a vacuum. It's part of a broader US strategy to reclaim its economic and climate leadership, which could raise concerns about protectionism and trade tensions. (Image: A handshake between world leaders representing international cooperation)
But here's the economist's wrinkle:
Long-term effectiveness: Will these investments make US industries truly competitive? Are there potential "white elephants" lurking? (Image: A question mark looming over a factory)
International relations: Can the US achieve its climate goals while navigating the delicate dance of global trade? Can cooperation trump competition? (Image: A globe with climate change visuals and trade routes)
The road ahead is paved with both triumphs and obstacles, but the IRA is a game-changer. To ensure its success, economists suggest:
Comprehensive impact assessment: Continuously evaluate the IRA's effectiveness, ensuring it aligns with evolving needs. (Image: A bar graph showing the IRA's impact on various factors)
Strategic project oversight: Prevent wasteful spending in large-scale projects, maximizing economic and environmental benefits. (Image: A magnifying glass over a factory)
International collaboration framework: Foster cooperation with key trade partners to address climate change and avoid trade wars. (Image: A group of diverse world leaders working together)
The IRA is more than just a policy; it's a window into the future of the US economy. By understanding its potential and challenges through an economist's lens, we can better navigate the road ahead and ensure a greener, more prosperous future for generations to come.
Thank you for the information!!!! Your knowledge wasn’t wasted!!
Well both sides are back to fracking and the economy is not in good shape so I believe this was a failure in the short term at least
Meanwhile, gas costs $5.39.
Tax credits only help people who have tax liability.
Inflation Reduction act in a nutshell: All prices are inflated and what you expect is reduced.
Well then if support doubles when citizens find out exactly what’s in the bill then there needs to be a much greater and concerted effort to get the message out.. billboards..newspaper ads..ect.. You can’t just give this helpful information out to those who are showing up at your rallies and supporting you regardless ‼️🇺🇸🗽
The bigger point is why’d they wait for the last year in office when Democrats started seeing such Americans moving towards trump, everyone knew for years that good energy investments were good for economic growth but NEVER did anything until trump came in to call out the BS they’ve been doing…
Sounds like DEMAGOGUE if I ever met one .
Solar panel buisiness has not yet turned a profit and never will.
The inflation reduction act added $8,755.00 dollars to my share of the national debt. Adjusted for inflation, $32,200.00 about. That is if i retire in 6 years, more if not.
Anything that he signs needs to be rejected on the grounds that he was not of good sound mind to sign Anything
It is time that every citizen learn about all the legislation passed by Congress through President Biden’s leadership.
The only thing you need to know about the Inflation Reduction Act is that it has almost nothing to do with reducing inflation.
Why sell our reserves? Helping Saudi oil Iran and China solar
It means that our great-grandchildren will continue to pay for our debts.
These things actually pay for themselves. We've seen that throughout history. Also, the way we dealt with debt for the first 200+ years was to raise taxes, but then Reagan convinced people that government was the enemy and we should cut taxes, especially to the wealthy and corporations and that we would all be happy then. Not only did it not work for the last 40 years, but that's all the Republicans propose when they do talk about policy. Biden's agenda has been in effect for less than a year. I know it's boring, but these things take time.
🙈🙊🙉the world is covering the debts of the greedy USA empire😠😡🤬and the world is waking up to the THEFT😡MOST AMERICAN'S ARE PART OF THIS SYSTEM OF THEFT TODAY🙈🙊🙉just look at the wealth income gap 😠PURE 100% THEFT🤬
Inflation reduction act alright, this bill has made everything even worse.
When are we going to get bs reduction act
Inflation is a problem but we also have bigger problems called "greedflation" and "shrinkflation" and it's very easy to see who is responsible for these.
They doubled the money supply, halving the purchasing power of every dollar in your wallet.
😅Janet is borrowing like a drunken sailor😀😅😄😜
Whatever the bill is named its designed to do the opposite geee i wonder who writes these bills 🇮🇱
A news report on 'What to know about the Inflation Reduction Act?' AND THEN NOT TELLING ANYTHING USEFULL ABOUT IT! WOW,... your news report is people don't know what is in it. THAT'S THE NEWS. News reporters should try harder than that.
I thought he was going to explain it
What brand of EVs are shown at 0:59?
Who cares. When the EV prices go up at the same time and rate as the US gov subsidy, that is the signal to run!
@@teamginger9134 Tesla has been reducing prices for years and will continue to do so. Whether the big 3 will do the same remains to be seen.
It seems to be a Mercedes-Benz EQS, it is a luxury car though.
Who can afford to invest in solor when inflation is eating your check monthly.
Looks like the only thing in this package for me is to pay in taxes for those who can afford it.
How come inflation keeps going up, espcially groceries!
The inflation reduction act has still not been explained.
You can always tell a salesman. Because they talk a lot without saying anything at all.
Tax tax tax is not bad ???
Printing trillions of dollars and putting into circulation for pet projects and bringing down inflation that you raised but not less than 2019 levels.
Advice of the Day: Inflation is still to high and we’re suffering for it because of lousy policies such as Bidenomics which is hurting all of us. Too Much Spending caused high inflation and now with Bidenomics it’s to cause even bigger problems for Middle and Poor Class Americans.
Government subsidies increase inflation
He can't be serious...! Inflation is way to high...!
What to know? It means your children and your children’s children will never have the same quality of life you had when you grew up.
BIDEN VILLES IN ALL 50 STATES🙉🙊🙈WHAT WORLD DO YOU LIVE IN😅😜😄FANTASY AT NBC 🙉🙊🙈
Gracias Biden por los cheques que nos mandan cada mes, hoy vivo mejor y no necesito trabajar
Lies
Who writes these bills that do the opposite of what they are called 🤔
🌈🇮🇱
Manchin
They showed you that inflation has come back down to recommended levels. Now what part of that came from this act we don't know, but it's not like it did the opposite.
Please read it until the end: The fall of the economic hegemony of the USA has begun, the dollar loses value in the international market, which causes inflation in the USA to increase every day and as a consequence causes the bankruptcy of many companies and industries. in the world. causing an increase in unemployment but most worrying of all is that it is not only the economy of this country that is in danger but also its Democracy, insecurity has increased a lot in recent years due to the legal use of weapons in that country, a serious error of the Democracy of the USA, the gender ideology is reaching the schools to continue indoctrinating our minors with the worst depravities, that there can be, in addition to drug trafficking and the number of corrupt politicians who do nothing to change this serious reality of the country, interest rates have also increased, along with unemployment and foreign debt that also continues to increase, this is unfortunate, every day China and the Brics countries outperform themselves in many areas and we only see every year how capitalism The US is weakened against the countries of socialist ideology or of the communist left, which could make the countries that are rich today, considered first world countries, the capitalists end up poor, and the socialist countries that the only thing that this political ideology has brought to the world are prejudices, which would mean that every day we get closer to a new economic, political and social order in the world, led by countries that are not democracies but dictatorships
When will these demagogues figure out that inflation is a monetary problem, especially by the Dem-fueled deficit, not a supply-side problem 🙄
comment is a lie
So how would you fix it? Can you name some actual monetary policies that Republicans are running on?
CUT THE MIC IN HALF😅😜😄REALLY BY 2/3'S 🤬🤬🤬dump the police state ☠️CIA☠️FBI☠️NSA☠️HOMELAND SECURITY☠️😜THAT IS A start😀😀😀😀😀😀😀and
🛑STOP LEGALIZED BRIBERY🤬
When you say "Dem fueled deficit," are you taking into consideration that Republican presidents' deficits are 54% larger than Democrats' and 65% higher as a percent of GDP. GDP grows 75% faster under Democratic Presidents.
Why couldn’t they just sneak in a wage increase?
Dems & Reps 2 worried about the pockets of wealthy donors and shareholders. This bill had absolutely no effect on corporate America.
Who's this silly little boy, Puberty blockers working
Investing in America is always a good thig yhe only problem it missed taxing the wealthy
The lady in red seems awfully happy
Hmm. Million dollar homes- all occupied by Sleeper Karen & Michael Douglases with $7 an hour- shoot GOLDEN AGES folks.