President Biden signed a sweeping $750 billion health care, tax, and climate bill into law at the White House. The bill will impose a minimum tax on businesses, levy a one percent tax on stock buybacks, provide funding to double the size of the IRS with 87,000 new agents to perform audits, and much more. The so-called “Inflation Reduction Act” is a short-sighted and regressive action that punishes Americans who have watched prices skyrocket over the past year and a half.
