Democrats Celebrate Passing Of Inflation Reduction Act

NBC News published this video item, entitled “Democrats Celebrate Passing Of Inflation Reduction Act” – below is their description.

Democrats are celebrating the passing of the Inflation Reduction Act. The bill will increase taxes on large corporations, allow medicare to negotiate prescription drugs prices and make massive climate change investments. However, Republicans are blasting what they call reckless spending. NBC News’ Kristen Welker reports on what this could mean for the midterms.

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About This Source - NBC News

NBC News is the news division of the American broadcast television network NBC.

NBC News aired the first, regularly scheduled news program in American broadcast television history on February 21, 1940.

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Climate Change is the name commonly given to the notion that the Earth is undergoing a changing climate as a result of human activity, including notable leaders, scientists and naturalists including Sir David Attenborough.

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“Democrats” usually refers to the The Democratic Party of the United States – one of the two major political parties in the country, along with its main, historic rival, the Republican Party.

It was founded on 8th January 1828 and has its contemporary headquarters in Washington, D.C., United States. The present leadership is Nancy Pelosi (Party leader) and Jaime Harrison (Party chair).

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In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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The National Broadcasting Company is an American English-language commercial broadcast television and radio network which is the flagship property of and owned by Comcast. The network is headquartered at 30 Rockefeller Plaza in New York City, with additional major offices near Los Angeles, and Chicago.

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The Republican Party, sometimes also referred to as the GOP (Grand Old Party), is one of the two major contemporary political parties in the United States, along with its main, historic rival, the Democratic Party.

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