Texas Senator, Ted Cruz, slips up on Fox News when he tries to make a ridiculous argument about the Inflation Reduction Act. John Iadarola and Brett Erlich break it down on The Damage Report.
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Democrats just agreed on a bumper tax, healthcare, and climate bill. Here’s what’s new, what hasn’t changed — and what it means for you. – https://www.businessinsider.com/what-inflation-reduction-act-means-finances-tax-health-climate-democrats-2022-8
"The Democrats are on the brink of passing their $739 billion Inflation Reduction Act after weeks of negotiation culminating in the approval late Thursday from the last of the party’s holdout senators.
The proposed legislation provides for cheaper prescription drugs, free vaccines for seniors, and generous tax credits for electric vehicles, among other things. It also aims to create more than 1 million jobs. Moody’s says the bill is likely to live up to its name and rein in soaring inflation.
However, late-night wrangling Thursday resulted in notable changes to the legislative package. Notably, plans to close the carried interest loophole were dropped in favour of a new levy on stock buybacks."
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