[This piece has been published in Restoring America to highlight how the Biden administration’s economic policies will do little to curb the inflation crisis].

Earlier this month, President Joe Biden signed the Inflation Reduction Act (IRA) into law, creating tax cuts and spending on energy, climate, and healthcare. Despite the name, reports from Penn’s Wharton Budget Model and others suggest that the legislation won’t prove to be especially disinflationary. And a new analysis from the Committee for a Responsible Federal Budget suggests that any gains would be completely offset even by a modest student loan cancellation event, expected to be announced by the White House any day.