{"id":1610893,"date":"2022-08-17T14:55:09","date_gmt":"2022-08-17T18:55:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1610893"},"modified":"2022-08-17T14:55:14","modified_gmt":"2022-08-17T18:55:14","slug":"manchin-democrats-never-said-inflation-reduction-act-would-immediately-bring-down-costs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-democrats-never-said-inflation-reduction-act-would-immediately-bring-down-costs\/","title":{"rendered":"Manchin: Democrats \u2018Never Said\u2019 Inflation Reduction Act Would Immediately Bring Down Costs"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmanchin-democrats-never-said-inflation-reduction-act-would-immediately-bring-down-costs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1610893&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/IMG-8465-e1660753693467.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Democratic West Virginia Sen. Joe Manchin claimed Democrats \u201cnever said\u201d the newly passed Inflation Reduction Act would immediately bring down costs.<\/p>\n<p>The senator admitted to Fox News reporter Hillary Vaughn that the reconciliation package will not \u201cimmediately\u201d bring down the costs of groceries and everyday goods. Several Democrats have said Americans will see prices go down thanks to the legislation.<\/p>\n<p>\u201cIs it misleading to call this the Inflation Reduction Act for Americans when it\u2019s not going to make their grocery bill cheaper, it\u2019s not going to make everyday goods cheaper for them at least immediately?\u201d Vaughn asked.<\/p>\n<p>\u201cWhy would it? Well, immediately it\u2019s not,\u201d Manchin responded. \u201cBut we never said anything happens immediately like today, turn the switch on and off.\u201d<\/p>\n<div id=\"rev-more-content\">\n<p>Manchin introduced the legislation alongside Senate Majority Leader Chuck Schumer with the intention of lowering the <a href=\"https:\/\/dailycaller.com\/2022\/08\/16\/inflation-reduction-act-healthcare-medicare-drug-prices-obamacare\/\" target=\"_blank\" rel=\"noopener noreferrer\">costs of prescription drugs<\/a> and the federal budget deficit, investing in clean energy and imposing a 15% minimum tax on corporations making at least $1 billion in profit. <strong><a href=\"https:\/\/dailycaller.com\/2022\/08\/03\/cnbc-joe-kernen-inflation-reduction-act\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: \u2018Do You Just Laugh Out Loud?\u2019: CNBC\u2019s Kernen Mocks The Inflation Reduction Act)\u00a0<\/a><\/strong><\/p>\n<p>Several prominent members of the administration have said the bill will shortly ease inflation. Energy Secretary Jennifer Granholm told CNN\u2019s Brianna Keilar said the legislation\u2019s climate provisions will \u201cimmediately\u201d lower fuel costs.\u00a0<strong><a target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Biden Just Signed The Inflation Reduction Act \u2014 Here\u2019s How It Can Transform Your Healthcare)<\/a><\/strong><\/p>\n<p>\u201cImmediately, people will be able to lower the fuel costs in their home,\u201d Granholm said. \u201cThere\u2019s a 30% tax credit that you can claim in 2022 for installing energy efficient windows, heat pumps and energy efficient appliances. That is right away. And, on top of that, of course, if citizens want to install solar panels on their roofs so they can generate their own power, that\u2019s another 30% tax credit.\u201d<\/p>\n<p>White House press secretary Karine Jean-Pierre <a href=\"https:\/\/www.breitbart.com\/clips\/2022\/08\/12\/jean-pierre-on-immediate-impact-of-inflation-reduction-act-pass-it-then-see-how-mechanics-of-lowering-energy-costs-will-work-through\/\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> that people will feel the easing costs of energy \u201cright away\u201d due to the passage of the bill on CNN Friday.<\/p>\n<p>\u201cHow does it bring it down right now, though? Americans need it right now?\u201d CNN \u201cNew Day\u201d host Brianna Keilar asked.<\/p>\n<p>\u201cWell, let\u2019s get this bill passed, and then we\u2019ll see how the mechanics and all of that\u2019s going to work through. But those are things, specifically, that America\u2019s going to feel right away. When it comes to lowering prescription drugs, that will be earlier in the year next year.\u201d<\/p>\n<p>Director of the National Economic Council Brian Deese <a href=\"https:\/\/finance.yahoo.com\/video\/inflation-reduction-act-americans-see-160723121.html\" target=\"_blank\" rel=\"noopener noreferrer\">told<\/a> Yahoo Finance that the law will have an \u201cimmediate impact\u201d by lowering healthcare and prescription drug costs and providing tax credits for investment in clean energy. He further argued Americans will witness an \u201cimmediate, short term and long term impact\u201d on the economy as a result of the bill.<\/p>\n<p>Non-partisan government agencies and reports have contradicted Democrats\u2019 claims that the legislation will lower inflation. The Congressional Budget Office (CBO) <a href=\"https:\/\/dailycaller.com\/2022\/08\/14\/karine-jean-pierre-this-week-jon-karl-inflation-reduction-act\/\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> the legislation will have a \u201cnegligible impact on inflation\u201d in the current and next year. A University of Pennsylvania Wharton <a href=\"https:\/\/dailycaller.com\/2022\/07\/29\/inflation-reduction-schumer-manchin-wharton\/\" target=\"_blank\" rel=\"noopener noreferrer\">budget model<\/a> similarly found that it will have no effect on inflation and is only expected to cut the deficit by $248 billion.<\/p>\n<p>CNN White House correspondent John Harwood <a href=\"https:\/\/dailycaller.com\/2022\/08\/16\/cnn-john-harwood-inflation-reduction-act-name-trick-joe-manchin-voting-yes\/\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> Tuesday that the legislation\u2019s name was a \u201cmarketing device\u201d to persuade Manchin to support it.<\/p>\n<p>\u201cWhat it\u2019s about is climate, it\u2019s about health policy, extending Obamacare subsidies, lowering prescription drug costs by letting Medicare negotiate and taxing big corporations. That\u2019s the core element of the plan,\u201d Harwood continued. \u201cIf it does anything appreciable to reduce inflation, that\u2019s gravy.\u201d<\/p>\n<p>The bill, in part, <a href=\"https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2022\/7\/29\/inflation-reduction-act-preliminary-estimates\" target=\"_blank\" rel=\"noopener noreferrer\">funds<\/a> $370 billion in tax credits and subsidies to promote green energy and about $80 billion to add an additional 87,000 agents to the Internal Revenue Service.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Democratic West Virginia Sen. Joe Manchin claimed Democrats \u201cnever said\u201d the newly passed Inflation Reduction Act would immediately bring down costs.The senator admitted to Fox News reporter Hillary Vaughn that<\/p>\n","protected":false},"author":198,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1610893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1610893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/198"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1610893"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1610893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1610893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1610893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1610893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}