Democrats call it the “Inflation Reduction Act.” Republicans say it’s a “tax and spending spree.” And everyone has a study they say proves it.
Recent bipartisan action in Congress on matters ranging from producing computer chips to expanding NATO isn’t extending to the latest economic package from Democrats, which is generating a battle of dueling statistics and projections over whether it would help or hurt the economy.
For President Joe Biden, the Senate Democrats’ $739 billion package can help lower inflation, cut the budget deficit, address climate change and lower medical bills — a message that he’s trying to sell to the wider country amid intense Republican criticism.
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