The bill was passed in August 2022, inflation plummeted after that. So what's your point?
Both bills Kamala was responsible for were not what the economy needed.
The American Rescue Plan Act of 2021 was signed into law by President Joe Biden on March 11, 2021. This followed the Senate's passage of the bill, which included the tie-breaking vote cast by Vice President Kamala Harris.
The U.S. experienced a 9% inflation rate in June 2022. Specifically, the Consumer Price Index (CPI) rose by 9.1% year-over-year in June 2022, marking the highest inflation rate in over 40 years.
After the Inflation Reduction Act was signed into law in August 2022 which Kamala also cast the tying vote, inflation in the U.S. gradually began to decline, but this change was influenced by a variety of factors beyond the law itself. The Consumer Price Index (CPI), which measures inflation, had peaked at 9.1% in June 2022. Following the passage of the Inflation Reduction Act and other economic measures, inflation started to decrease, with the CPI falling to 8.3% by August 2022 and continuing to decline into 2023.
The 2021 American Rescue Plan Act injected a lot of money into the economy to help people and businesses during the pandemic. This extra money increased the amount of money circulating in the economy (money supply), which led to more people spending and buying things. When everyone has more money to spend, demand for goods and services goes up. But if the supply of those goods and services can't keep up with the increased demand, prices start to rise, which leads to inflation.
The 2022 Inflation Reduction Act indeed focused on long-term investments in sectors like clean energy and healthcare, which meant that it directed funds toward specific producers rather than broadly increasing consumer spending. By stimulating supply in targeted areas rather than boosting overall consumer demand, the Act avoided exacerbating inflation. However, since it didn't significantly reduce the money supply or address widespread demand, its immediate impact on inflation was limited. The Act's effects on inflation were more about long-term structural changes rather than quick fixes.
Yeah, I agree with you, the average swing state voter won't come close to understanding all that. They just know the prices are too damn high, and someone needs to take the blame.
When Kamala's handlers made the decision to not spend a good bit of time at the DNC blaming Trump specifically for inflation, they are letting the swing state voters decide on their own who to blame...that is NOT how to do election propaganda and win.
