{"id":1993947,"date":"2023-08-08T04:08:01","date_gmt":"2023-08-08T08:08:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-bets-on-inflation-reduction-act-as-he-tries-to-win-voters-over-on-economy\/"},"modified":"2023-08-08T04:11:35","modified_gmt":"2023-08-08T08:11:35","slug":"biden-bets-on-inflation-reduction-act-as-he-tries-to-win-voters-over-on-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-bets-on-inflation-reduction-act-as-he-tries-to-win-voters-over-on-economy\/","title":{"rendered":"Biden pins hopes on Inflation Reduction Act to sway voters on economy."},"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%2Fbiden-bets-on-inflation-reduction-act-as-he-tries-to-win-voters-over-on-economy%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=1993947&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--><h2>Next week: \u2062Celebrating the Anniversary of the\u200d Inflation Reduction Act<\/h2>\n<p>Get ready to mark the anniversary of a significant milestone in President Joe Biden&#8217;s administration. \u2062It&#8217;s been a year since the Inflation Reduction Act was passed by President Biden \u200cand\u2064 congressional Democrats,\u2063 including the \u200binfluential Sen. Joe Manchin (D-WV).<\/p>\n<p>While \u200cinflation has cooled down, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-bets-on-inflation-reduction-act-as-he-tries-to-win-voters-over-on-economy\/\" title=\"Biden pins hopes on Inflation Reduction Act to sway voters on economy.\">consumer\u2062 prices\u200b remain stubbornly high<\/a>. But that hasn&#8217;t dampened the enthusiasm of President\u200d Biden\u200b and the \u200cDemocrats. They are actively promoting \u2064the measure, \u2062even \u200dbefore\u2063 the\u200b release of last month&#8217;s \u2063inflation numbers, as they gear up for next\u2063 year&#8217;s general election.<\/p>\n<h3>The Impact of the Inflation Reduction Act<\/h3>\n<p>Despite a decrease in the annual inflation rate from\u200b 9.1% to 3% compared to last\u200b year, the \u2064Inflation Reduction \u2063Act\u200d has \u200cnot been without its challenges. According\u2064 to EJ Antoni, a\u2063 federal budget \u200dresearch fellow at the\u200d Heritage Foundation, \u2062the act has \u2063actually increased prices and exacerbated\u2064 disinflation, or slower\u200b inflation.<\/p>\n<blockquote><p>&#8220;So\u2064 the idea that \u2062the \u2062Inflation\u200b Reduction Act has been a smashing\u200c success\u200d because it has consistently brought down inflation,\u200c that\u200c won&#8217;t\u200c be the case \u2062on Thursday,&#8221; Antoni told\u2064 the Washington Examiner. &#8220;The \u200bother thing is that inflation is still, \u200dif\u200b you&#8217;re \u2063going\u200b by June&#8217;s number, inflation is still more than twice\u2063 what it was when Biden took office.&#8221;<\/p><\/blockquote>\n<p>Antoni, an expert\u200c in public finance economics, predicts that last month&#8217;s annual \u200cinflation rate,\u2062 to be reported by\u200d the Labor Department on Thursday,\u200c will likely be above 3%. He points out that inflation \u200dhas been \u200ctrending towards 3% rather than \u200bthe promised 2%. In June, monthly inflation increased to 0.2% from 0.1% in May. Core inflation, which \u200dexcludes \u200dfood and\u200c energy prices, rose \u200cto 0.2%\u200c and 4.8% in June, up from\u200d 0.4% and 5.3% in May.<\/p>\n<blockquote><p>&#8220;There&#8217;s\u2064 literally no indication \u200bthat we&#8217;re going\u200b to be going \u200dany\u200c lower any time \u2064soon,&#8221; Antoni added. &#8220;I just ran the numbers again \u200dthis morning, and I cannot make it come out any \u2062way other than\u2063 higher\u2063 than last month.&#8221;<\/p><\/blockquote>\n<p>Antoni also highlights the impact of \u200cenergy \u2062prices on inflation. He points out that the deprioritization of domestic production \u2064has led to an increase in\u2062 the average national cost\u200c of\u200b gas, which now stands at $3.83 per gallon, up\u200b from $3.50 just\u2062 a month ago,\u2063 according to AAA.<\/p>\n<p>The Republican National \u2062Committee has seized on the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-now-urging-oil-and-gas-companies-to-bring-down-rising-fuel-costs-report\/\" title=\"Biden Admin Now Urging Oil And Gas Companies To Bring Down Rising Fuel Costs: Report\">rising fuel costs<\/a>, reminding President Biden of his previous desire to\u2062 take credit when gas prices fell from their \u200cpeak \u200dof $5 last June. RNC spokesman Jake Schneider doubts whether\u2062 Biden will take responsibility \u200bfor the\u2064 current surge \u200din prices, stating, \u200d&#8221;Since \u2064Biden took office, Americans have lost over\u2062 $2,250 paying higher energy costs. \u2064Biden also drained the U.S. Strategic Petroleum Reserve down to just 18 days\u2062 of \u200csupply \u2014 and refilling \u200cit \u2064will\u2063 take decades.&#8221;<\/p>\n<h3>The Economy and Biden&#8217;s Reelection Campaign<\/h3>\n<p>The state of the economy will play a\u2063 crucial role \u2064in President Biden&#8217;s reelection campaign. He and the \u2063Democrats\u200d have seen a decline in support among non-college-educated voters, including minority \u200cnon-college-educated voters, partly due to his climate agenda. However, this is a challenge that Biden and the Democrats have faced before. Exit polls from last year&#8217;s midterm\u2062 cycle revealed that the economy was the top\u200b concern for voters, \u2062along with abortion access, before the party \u2062outperformed expectations.<\/p>\n<p>According to RealClearPolitics, President Biden&#8217;s overall\u200d <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kamala-harris-insists-she-has-great-approval-ratings\/\" title=\"Kamala Harris claims high approval ratings.\">approval-disapproval rating stands<\/a> at 42%-55%, with his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-picks-up-the-pace-in-pursuit-of-2024-campaign-cash-near-end-of-quarter\/\" title=\"Biden ramps up efforts for 2024 campaign funds as quarter comes to a close.\">economic approval-disapproval<\/a> at 38%-58%. However, his inflation approval-disapproval rating is even lower \u200dat \u200d33%-63%. These numbers were reflected \u2064in a recent Monmouth\u200c University\u2064 poll, which found that his \u2064inflation approval-disapproval \u2062rating was 34%-62%, and among\u2064 independents, it was \u200c26%-71%.<\/p>\n<blockquote><p>&#8220;To the extent Americans may feel more confident financially, they aren\u2019t giving\u200c Biden much credit for it,&#8221; said Patrick Murray, the director of\u2063 the Monmouth University Polling Institute. &#8220;His economic policy performance numbers have barely \u2064budged since last\u200b year.&#8221;<\/p><\/blockquote>\n<p>To \u200chighlight \u2063the Inflation \u2064Reduction \u200cAct, \u200bPresident \u200bBiden\u200d will be visiting\u2062 the battleground state\u200d of Arizona \u2064on\u200d Tuesday, followed by a \u200ctrip to New Mexico \u200con Wednesday. The White House states \u2062that these visits \u200bwill allow the president to emphasize his &#8220;historic investments in conservation\u2062 and protecting \u2064our natural resources&#8221; and promote \u2062the act as &#8220;the largest investment in climate action in our nation\u2019s history.&#8221; Future\u2062 Forward, Biden&#8217;s preferred super PAC, is \u200calso running new advertisements\u2062 about the measure.<\/p>\n<h3>Manchin&#8217;s Potential Impact<\/h3>\n<p>Sen. Joe Manchin could complicate\u2063 the anniversary of the Inflation Reduction Act. Speculation\u200d is growing that he \u2062may consider \u200da\u2062 third-party presidential campaign instead of seeking reelection, potentially going up against Gov. Jim\u200d Justice \u2062(R-WV).<\/p>\n<p>Manchin has expressed concerns about certain aspects of the Inflation\u2063 Reduction Act, such as the\u2062 expansion of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/canada-mexico-angry-over-bidens-support-for-electric-vehicle-tax-credits-citing-trade-agreements\/\" title=\"Canada, Mexico Angry over Biden\u2019s Support for Electric Vehicle Tax Credits, Citing Trade Agreements\">electric vehicle tax credits<\/a>\u200d beyond commercial use, as well as President\u200b Biden&#8217;s broader domestic\u200d energy positions.\u200b However,\u200b he did secure some concessions on permitting \u2064reform during last spring&#8217;s debt ceiling negotiations. In protest, Manchin \u200chas also prevented the\u2062 confirmation of \u200dPresident Biden&#8217;s Environmental Protection\u200d Agency nominees.<\/p>\n<p>As the\u2064 anniversary approaches, \u200call eyes will be on\u2064 the \u200bimpact\u200b of \u200dthe \u2063Inflation Reduction Act and its implications for President Biden&#8217;s\u200b reelection campaign.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/news\/biden-democrats-inflation-reduction-act-anniversary\">Click here<\/a> to read more from the Washington Examiner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Next week marks the anniversary of President Joe Biden and congressional Democrats, including Sen. Joe Manchin (D-WV), passing the Inflation Reduction Act. Despite some relief in inflation, consumer prices remain high. Nevertheless, Biden and Democrats are determined to promote the measure ahead of the upcoming release.<\/p>\n","protected":false},"author":1,"featured_media":1993948,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1993947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1993947","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1993947"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1993947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1993948"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1993947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1993947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1993947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}