By David Harsanyi
Editor’s note: Stephen Moore is off this week. Here’s a column from David Harsanyi in its place.
The first thing to remember about the reconciliation bill Sens. Joe Manchin and Chuck Schumer agreed to Wednesday is that, despite its utterly preposterous name, it has absolutely zero to do with inflation. The Inflation Reduction Act of 2022 is crammed with the very same spending, corporate welfare, price fixing and tax hikes that were part of Build Back Better — long-desired progressive wish-list agenda items. Pumping hundreds of billions into the economy will do nothing to alleviate inflation. The opposite.