Inflation Reduction Act
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Just so I understand correctly - the inflation figures that are given out every month are based on a 12 month"cumulative amount", to get a yearly change, correct?
So, in order for the US inflation rate to go from, for example, 9.!% in June --> 8.5% in July --> 8.3% in August, there is actually slight "deflation"?
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Green Tax Credits Are Likely to Be More Popular—and Expensive—Than Expected
But the tax-credit boom could undermine another administration talking point about the law: The claim that it will reduce long-run budget deficits. The Goldman and Brookings analyses contend that the tax credits could cost American taxpayers three times as much as the $271 billion forecast when Congress passed the law. The OMB figure points in the same direction, though its estimates about revenue from tougher tax enforcement—which are larger than congressional projections—turn the law from deficit-increasing to deficit-reducing.
“It’s extraordinarily more expensive than was forecast,” said Donald Schneider, a former House GOP aide who is now deputy head of U.S. policy at Piper Sandler. “This puts a huge target on the back of these credits.”
"Extraordinarily more expensive than forecast."
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Green Tax Credits Are Likely to Be More Popular—and Expensive—Than Expected
But the tax-credit boom could undermine another administration talking point about the law: The claim that it will reduce long-run budget deficits. The Goldman and Brookings analyses contend that the tax credits could cost American taxpayers three times as much as the $271 billion forecast when Congress passed the law. The OMB figure points in the same direction, though its estimates about revenue from tougher tax enforcement—which are larger than congressional projections—turn the law from deficit-increasing to deficit-reducing.
“It’s extraordinarily more expensive than was forecast,” said Donald Schneider, a former House GOP aide who is now deputy head of U.S. policy at Piper Sandler. “This puts a huge target on the back of these credits.”
"Extraordinarily more expensive than forecast."
@George-K said in Inflation Reduction Act:
Green Tax Credits Are Likely to Be More Popular—and Expensive—Than Expected
But the tax-credit boom could undermine another administration talking point about the law: The claim that it will reduce long-run budget deficits. The Goldman and Brookings analyses contend that the tax credits could cost American taxpayers three times as much as the $271 billion forecast when Congress passed the law. The OMB figure points in the same direction, though its estimates about revenue from tougher tax enforcement—which are larger than congressional projections—turn the law from deficit-increasing to deficit-reducing.
“It’s extraordinarily more expensive than was forecast,” said Donald Schneider, a former House GOP aide who is now deputy head of U.S. policy at Piper Sandler. “This puts a huge target on the back of these credits.”
"Extraordinarily more expensive than forecast."
Wait, in 2021 I used the $500 credit when I had more energy efficient doors installed. At that time the energy improvement credit was limited to a one time $500 credit. Did they change that in 2022? I had a new HVAC system installed in February…
