Inflation Reduction Act: Making China More Powerful, Diverting Buyback Money, Offshoring
Following the Senate's approval of the Inflation Reduction Act, market strategist Louis Navellier offers the following commentary on its wide-reaching impact.
The Inflation Reduction Act
The big news this week is the Inflation Reduction Act that imposes more taxes on U.S. production of coal, crude oil and natural gas, which means that utility bills will be rising to pay for higher taxes. A tax increase on methane emissions is the most controversial energy tax.
The Inflation Reduction Act is essentially re-regulating carbon dioxide emissions in the wake of the Supreme Court's landmark decision against the EPA.