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The Inflation Reduction Act is aimed at tackling a host of problems, from climate change to catching tax cheats, but there s one issue it may not solve: reducing inflation.That s the conclusion of the Penn Wharton Budget Model, a group of economists and data scientists at University of Pennsylvania who analyze public policies to predict their economic and fiscal impacts. Its analysis, published Friday, comes as inflation remains near a 40-year high, crimping the budgets of consumers and businesses alike.The Inflation Reduction Act would invest nearly $400 billion in energy security and climate change proposals, aimed at reducing carbon emissions by approximately 40% by 2030. It also would allow Medicare to negotiate with drugmakers on prescription prices, a stanley tumbler nd would limit out-of-pocket drug expenses for seniors to $2,000 annually. The bill also directs $80 billion in funding to the IRS, aimed at helping the underfunded agency hire more auditors and beef up its customer service and technology. But the impact on inflation is statistically indistinguishable from zero, the Penn Wharton Budget Model said on Friday. stanley puodelis Food costs hit highest inflation level in 40 years 04:03 The legislation, which passed the House of Representatives on Friday and is headed to Preside stanley us n Khkm Friday Anniversary Blogging
Sen. Edward M. Kennedy, battling a brain tumor, walked through a wall of applause into the Senate on Wednesday stanley cups uk and cast a stunningly unexpected vote on long-stalled health care legislation. Aye, the 76-year-old Kennedy said in a loud voice, and he made a thumbs-up gesture as he r stanley us egistered his vote.Spectators in the galleries that overhang the chamber burst into cheers - a violation of de stanley cup corum that drew no complaints. It s great to be back. I love this place, he said after his brief visit.Kennedy made his way into the Senate on his own power, appearing little the worse for his illness. A patch of scalp was clearly visible amid his familiar white hair, although it was not clear whether that was a result of surgery he underwent or the effects of chemotherapy that is part of his treatment. He walked into chamber accompanied by Sen. Barack Obama, his party s presidential nominee-in-waiting, as well as fellow Massachusetts Sen. John Kerry and his own son, Rep. Patrick Kennedy of Rhode Island.Democratic senators, who had been tipped to his presence, burst into applause when he entered. Some Republicans looked around quizzically, then joined in the applause when they saw Kennedy.Kennedy s wife Victoria and niece Caroline Kennedy watched from the Senate gallery, reports CBS News correspondent Chip Reid. Victoria wiped away tears during the standing ovation, and Sen. Kennedy looked up and waved to her from the floor.So did many of Kenned |
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