On Wednesday, President Joe Biden celebrated the signing of the so-called “Inflation Reduction Act.” Biden tweeted:
Exactly four weeks ago, I signed the Inflation Reduction Act into law.
So today, we’re celebrating.
Tune in at 3 PM ET as I deliver remarks and welcome the leaders and advocates who made it happen to the People’s House.
Back to reality now, as the price of groceries went up 13.5 percent in August from last year. That is the highest it’s been since 1979. Biden’s tweet and “celebration” received a lot of criticism from conservatives.
Rep. Virginia Foxx (R-NC) responded to Biden’s tweet, saying:
Families that saw grocery prices skyrocket by 13.5% in August aren’t celebrating.
It’s a slap in the face to “celebrate,” especially when consumers are still paying high costs for food and gas.
According to a University of Pennsylvania Wharton analysis, the “Inflation Reduction Act” would reduce annual inflation by 0.1 percent.
The analysis said:
The reduction, if you could even call it that, would only happen “once major deficit-reducing provisions of the legislation are fully implemented.”
“The Act would have no measurable impact on inflation after 2028. All these point estimates are not statistically different from zero, indicating a low level of confidence that the legislation would have a measurable impact on inflation.”
Republican communicator Matt Whitlock tweeted:
Really making a play for tone-deaf move of the election season here by celebrating a giveaway to rich Democrat donors while middle class families can’t afford groceries.
It looks like Ted Cruz was right all along. The Democrats have become the party of the elites, and the Republicans have become the party of the middle class. Democrats’ messaging is always targeted at the middle and working-class citizens, yet they under-deliver their promises every single time.
Rep. Patrick McHenry (R-NC) tweeted:
The Biden Administration’s victory lap for the so-called Inflation Reduction Act–on the same day new data shows Democrat-induced inflation continues to surge–is a slap in the face to Americans being clobbered by higher prices.
Lastly, Rep. French Hill (R-AR), who is the Financial Services GOP Subcommittee Ranking Member, highlighted the high costs that Americans need to pay:
A celebration?
Over the past year:Food at home is up 13.5% – largest since 1979Electricity up 15.8% – largest since 1981Rent up 6.7% – largest since 1986
The American people can’t afford a celebration over a bill that will do little to nothing to combat inflation.
The Democrats will focus on one issue, other than Donald Trump, leading up to the midterms: Abortion. The GOP must continue to focus on the southern border, crime, the economy, and Biden’s policy failures that are hurting hard-working Americans.