CBS News Drops ‘Inflation Reduction Act’ Bombshell

Days ago, the Inflation Reduction Act passed in the Senate after getting the all-clear in the House of Representatives as well. After Congress voted to pass this bill, Joe Biden quickly confirmed he’d be giving the legislation its signature into law later this week.

Democrats argue this bill will open the door to progress in the healthcare, climate change, and economic fields. Republicans warn the Inflation Reduction Act is just going to puff up the IRS, while raising consumer costs and taxes on the everyday American.

Days after this legislation passed Congress, CBS News opted to reveal a new report.

CBS News on the Inflation Reduction Act
In its latest report on this new spending bill, CBS said it “may not” be able to drive down inflation rates. CBS cited a study from the Penn Wharton Budget Model which states it’s not possible to distinguish from zero the impact the Inflation Reduction Act would have on high consumer costs.

Naturally, this isn’t news to many Americans. Republicans have been saying for quite some time now that this bill which relies on federal spending and taxation won’t actually lower inflation.

However, CBS News was chided for releasing this report after the House and Senate already passed the Inflation Reduction Act. This led to criticism from conservatives that mainstream media outlets intentionally sat on this information until it became politically expedient to broadcast it.

Many Americans also stated the name of the bill was a giveaway that it would do the opposite of what it was marketed to do. Just like the “American Rescue Plan” that did not “rescue” the nation at all, conservatives explained more spending isn’t going to reduce inflation.

Business as Usual For Democrats
In spite of the new CBS News report, Democrats haven’t missed a beat in insisting this legislation is going to reduce inflation.

Left-wing lawmakers continue to tout the bill on their social media accounts, in addition to calling Republicans who don’t support it liars.

Now, the GOP is warning Americans that if Democrats aren’t voted out of office in the November midterms, they’re going to keep passing spending bills until there’s nothing left of the United States.