May the Inflation Reduction Act impact inflation in America ?
The US is facing inflation raging near its highest level in four decades.
Finally, the House passed final approval to President Joe Biden on Friday.
Will Inflation Reduction Act impact the price hike from gas and food to rents and restaurant meals?
This inflation troubles American households.
The Senate passed earlier this week and now heads to the White House for Biden’s signature.
The experts say the law could save money for some Americans by lessening the cost of prescription drugs for the elderly.
And it can extend health insurance subsidies and reduce energy prices.
It can also cut the government’s budget deficit which might slightly lower inflation.
The White House has trumpeted a letter signed by more than 120 economists.
They assert that the law’s reduction in the government’s budget deficit by an estimated $300 billion over the next decade.
As a result, the act can reduce inflation.