August 31, 2022 - Douglas Myser

Benefits of inflation reduction act. Alot of haggling in Congress has happened, since the passage of the Inflation Reduction Act, as the mid-terms are near, and both parties are gearing up for any type of advantage they can get. So without the politics, here are the facts as outlined by noted Economist Joseph Stiglitz, a Nobel Laureate in economics, Columbia University. "For those worried about excessive demand, there is more than $300 billion in deficit reduction. And on the supply side, the bill would mobilize $369 billion of investments in energy security and decarbonization. That will help bring down the cost of energy--one of the main drivers of inflation and prices growth, and put Americans back on track to reach greenhouse emission standards of 2005 by 2030." Benefits of inflation reduction act.

"The Inflation Reduction Act would help address the rising costs that have plagued the health of Americans by lowering Affordable Care Act premiums for millions of Americans, and by capping out of pocket drug costs for those on Medicare. The pharmaceutical industry has received tens of billions of dollars more from Medicare simply because the government is prohibited from negotiating for lower prices. This will reduce drug prices by nearly $300 billion over the next tens years." Most of the Research and Development costs of these companies, was paid for by the American taxpayer, yet they get no break from the same companies, that benefit from those same Americans. Its time to take away the simply greed that has overtaken the drug companies and level the playing field.

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