Biden’s Worst Law - The Inflation Reduction Act will burden the American economy for years.

On signing the Inflation Reduction Act on August 16, 2022, President Joe Biden called it “one of the most significant laws in our history.” With the new law, Biden said, “the American people won and the special interests lost.” He repeated the line. The largest portion of the bill supposedly passed for the benefit of ordinary Americans went to tax credits for favored green corporations, amounting to more than half of the IRA’s nearly $400 billion in estimated environmental spending. The act also authorized hundreds of billions of dollars in subsidized financing for green corporations and environmentalist groups. Populist rhetoric...