Yesterday, the Congressional Budget Office published a cost estimate for H.R. 5376, the Inflation Reduction Act of 2022, which is the latest version of the reconciliation legislation in the Senate. This letter provides answers to the following four questions that Senator Lindsey Graham asked related to that bill and broader economic conditions.
Is the United States Currently in a Recession?
How Would Enacting the Bill Affect Inflation in 2022 and 2023?
What Is the Highest Amount of Income That People Qualifying for Expanded Health Insurance Subsidies Would Earn?
What Effect Would a New Alternative Minimum Tax on Corporations Have on Business Investment and GDP?