ALEC Chief Economist: Inflation Reduction Act is Economic Malpractice
"To unleash an American recovery, we need to pivot away from the wasteful, big government spending agenda."
Arlington, Va. (August 17, 2022) – The Chief Economist for the American Legislative Exchange Council (ALEC), Jonathan Williams, issued the following statement in reaction to the signing of the Inflation Reduction Act:
“Unfortunately, the latest big government spending bill out of Washington will do little to help American families and small businesses in desperate need of relief from crippling inflation and unaffordable energy costs. The combination of massive increases of federal spending in the middle of record high inflation, tax increases in the midst of an economic downturn and the unexplainable expansion of audits from the IRS, is economic malpractice. President Biden would do well to look to the states for ideas on how to help hardworking American families pay their bills. To unleash an American recovery, we need to pivot away from the wasteful, big government spending agenda, and instead, focus on providing tax relief, right sized spending reforms and an elimination of burdensome government regulations.” – Jonathan Williams, ALEC Executive Vice President of Policy and Chief Economist
During an interview on “Fox & Friends Weekend,” Williams explained how the recently-passed Inflation Reduction Act, would actually make inflation worse, raise taxes and increase spending. Williams called it “economic malpractice.”
# # #
The American Legislative Exchange Council is the largest nonpartisan, voluntary membership organization of state legislators in the United States. The Council is governed by state legislators who comprise the Board of Directors and is advised by the Private Enterprise Advisory Council, a group of private, foundation and think tank members. For more information about the American Legislative Exchange Council, please visit: www.alec.org.