Just a short time ago, on August 16th, The Inflation Reduction Act was signed into law. So, can we expect inflation to go down? Will this affect your finances in any specific areas? Listen in to hear the most important things you need to know about and how to properly navigate the changes this bill may bring.
In this episode, you will hear about what this bill was made to be last year and how it was stripped down in order to pass this year. I’ll discuss what is left in the bill, why its name is a bit misleading and how it pertains to your personal financial goals.
Listen to the Full Episode:
What You’ll Learn In Today’s Episode:
- Where this bill came from originally.
- What is left in the bill that was passed.
- The naming of the bill and issues that come up with that.
- Insight on if inflation will actually be reduced.
- What taxes are increased.
- What changes will happen with prescriptions.
- Changes in IRS tax enforcement.
Ideas Worth Sharing:
“There is a little bit of a bait and switch in the name of The Inflation Reduction Act of 2022 because I don’t think there’s a lot in here to actually tame inflation.” – Jonathan Bednar
“According to Penn Wharton Budget Model research, they believe this will have a very minimal effect on taming souring inflation.” – Jonathan Bednar
“The Congressional Budget Office also says the bill will barely make a dent in inflation in the near-term. They actually think that it could nudge it higher.” – Jonathan Bednar
Resources In Today’s Episode:
- Jonathan Bednar: Email | Twitter | LinkedIn
- Penn Wharton Budget Model
- The Congressional Budget Office
- What The Wealth?! by Jonathan Bednar
Enjoy the show? Use the Links Below to Subscribe: