Mike Palicz: Why the Inflation Reduction Act Actually Fuels Inflation

The Inflation Reduction Act is the reason for a lot of debate. Economists don’t seem to agree on whether it will fuel or cool inflation. The government’s inflation report for July, to be released Wednesday morning, is expected to show that prices jumped 8.7 percent from a year earlier—still a sizzling pace but a slowdown from the 9.1 percent year-over-year figure in June. While awaiting this report, NTD spoke to Mike Palicz, the federal affairs manager at Americans for Tax Reform, to find out what the Inflation Reduction Act could mean for the average American.