Inflation Reduction Act Will Cut After-Tax Incomes For Americans In Every Income Group: Report

The Democrats’ “Inflation Reduction Act” would reduce after-tax incomes for Americans in every income bracket and will worsen inflation, according to a new report from the nonpartisan Tax Foundation. The Tax Foundation revealed that the bill would cause after-tax incomes for Americans in every income group except the top 1% to fall by 0.2%, and those in the top 1% would see after-tax incomes cut by 0.3%. According to the report, “the Inflation Reduction Act would reduce long-run economic output by about 0.2 percent and eliminate about 29,000 full-time equivalent jobs in the United States. It would also reduce average after-tax


