The Inflation Reduction Act, which the White House has been falsely claiming is some sort of magical solution to skyrocketing prices, appears to be infuriating a number of America’s closest allies who are suggesting Biden’s massive spending package is hurting their economies and may even be illegal.
The massive $800 billion dollar package devotes nearly half of that to “climate and energy” stimulus for U.S. based companies.
European leaders are furious over this, saying that Biden’s subsidies are making it impossible for their own energy companies to compete and is sending energy prices overseas even higher than they would normally be.
In fact, these countries are alleging that the U.S. government is in direct violation of international trade rules by offering American corporations these tax credits.
While the Democrats claim to be climate conscious, the E.U. is further noting that the horrible policy actually has a detrimental impact on the economy.
Biden’s package is not just making enemies in Europe, however, with Asian allies like Japan and South Korea expressing concern over how this will wreak havoc on their car industries.
These countries are now demanding that Biden and his regime make serious changes to the Inflation Reduction Act in order to bring it in line with international law.
Does Biden plan to fix it? Or will he continue to advance this policy which risks turning long-time allies into dangerous enemies. Watch the video to find out.