LANSING, Mich. (Michigan News Source) – On Tuesday, Gov. Gretchen Whitmer announced an executive directive that she said utilizes the newly passed Inflation Reduction Act to “lower costs for Michigan families.”
“This directive will ensure Michigan’s state departments and agencies use every tool in their toolboxes to pass savings on to Michiganders, expanding on Whitmer’s work to lower costs for families across the state,” according to a Whitmer administration press release. “The Inflation Reduction Act will lower the cost of prescription drugs, health care, and energy, offer a middle-class tax credit to help families buy electric vehicles made in Michigan, and create millions of manufacturing jobs.”
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The executive directive can be found here.
Many economists and the non-partisan Congressional Budget Office said the $739 billion Inflation Reduction Act does nothing to lower inflation.
The Penn Wharton Budget Model concluded last month that the legislation does little to directly tackle the underlying causes of inflation and instead will push up the cost of everything.
