Promises made, promises broken.
So, who gets served in this new ‘Inflation Reduction Act’ that just passed? First, it’s not inflation. In calendar year 2022, enacting the bill would have a negligible effect on inflation, in CBO’s assessment. In calendar year 2023, inflation would probably be between 0.1 percentage point lower and 0.1 percentage point higher under the bill than it would be under current law. This bill is basically just pushing spending priorities around in favor of different parts of Big Business…it does not serve the American people or live up to any substantive promise made by the Democratic Party.
How ‘climate friendly’ is that new law?
The electric vehicle tax credits do not currently apply to any electric vehicle whatsoever, nor will they obviously apply to any electric vehicle to be produced in the near future. (Source Politico)
How about the corporate minimum tax provisions?
Most of the companies covered are expected to be manufacturing, and didn't we hear from the Democratic Party (and their pundits) some while ago that manufacturing jobs are what ‘we’ wanted to bring back to America?
Dirty Joe Manchin got energy subsidies for agreeing to his vote, what about our favorite ‘leftist’ Bernie Sanders? What did he demand or get—maybe a single thing promised in the Democratic Party platform? Nope. Zero, zip, nada. And how about all those promises made by the Democratic Party once they got elected?
Promises Promises…and zip zero nada! This is all from the Democratic Party Platform 2020, folks!!!
Universal health care?
“We are going to at last build the health care system the American people have always deserved: one that finally provides universal health care coverage…To achieve that objective, we will give all Americans the choice to select a high-quality, affordable public option through the Affordable Care Act marketplace. The public option will provide at least one plan choice without deductibles; will be administered by CMS, not private companies; and will cover all primary care without any co-payments and control costs for other treatments by negotiating prices with doctors and hospitals, just like Medicare does on behalf of older people.”
How about COVID relief?
“For people who risk losing their insurance coverage if they lose their jobs in this pandemic and in President Trump’s recession, Democrats believe the federal government should pick up 100 percent of the tab for COBRA insurance, which keeps people on their employer-sponsored plans, without restrictions….Democrats believe that making child care affordable and widely available is essential to recovering from the COVID-19 pandemic….”
How about housing?
“We support state and local measures to freeze rent increases, evictions, utility shutoffs, and late fees for rent, to prevent families from becoming homeless”
Paid sick leave?
“Paid sick leave is a necessity even under normal circumstances, but in a pandemic, it’s a matter of national security. This is especially true for the Black, Latino, Asian American and Pacific Islander, Native American, and low-income workers who are less likely to be able to work from home. We will immediately enact robust paid sick leave protections”
Universal pre-K?
“We will work with states to offer pre-K for all three- and four-year-olds and expand Head Start and Early Head Start.”
Higher education?
“we will make public colleges and universities tuition-free for students whose families earn less than $125,000—roughly 80 percent of the American people.”
The list goes on and on. With Democratic Party majorities in both houses of Congress and the Presidency, we’re a long long way from seeing any of their promises to the American people come to life.
Notes