Two Cheers for the Inflation Reduction Act ...Middle East

The New Republic - News

The Inflation Reduction Act includes probably the only significant tax increases the Democrats will push through Congress during President Biden’s first and perhaps only four-year term. The bill’s likely passage is a political triumph for Biden, for which all Democrats should feel grateful. But why, oh why, must this be so difficult?The bill’s limitations are a dispiriting reminder that the Democrats remain unwilling to tax corporations and the rich to anywhere near the extent this country did for most of the twentieth century—despite a strong public desire to do so and a nascent international agreement to impose a minimum corporate global income tax that the IRA would not fulfill.The bill i

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Two Cheers for the Inflation Reduction Act ...Middle East

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