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‘Inflation Reduction Act’ Has Little Inflation Help, UPenn Study Says

  • Estimates ‘statistically indistinguishable from zero’: study
  • Penn Wharton researchers influential with Senator Joe Manchin
Senator Joe Manchin, a Democrat from West Virginia, speaks with members of the media at the US Capitol building in Washington, D.C., US, on Wednesday, May 11, 2022. 
Senator Joe Manchin, a Democrat from West Virginia, speaks with members of the media at the US Capitol building in Washington, D.C., US, on Wednesday, May 11, 2022. Source: Bloomberg

The Inflation Reduction Act of 2022, the breakthrough US legislative deal on key parts of President Joe Biden’s agenda, likely won’t reduce inflation at all, according to a study.

And that’s coming from researchers influential with the senator whose vote was crucial to sealing the deal, Joe Manchin of West Virginia.