Inflation act will fuel higher insurance premiums

The Senate is set to consider the Inflation Reduction Act, the Democrats’ massive budget reconciliation legislation.

President Joe Biden has stumped for the bill’s hundreds of billions in tax hikes on corporations as a way to ensure they “pay their fair share.” But many of those dollars will subsidize the purchases of people who hardly need help. In so doing, they’ll distort the market in ways that lead to higher prices for everyone.