US Senate has recently passed the bill called Inflation Reduction Act. Admittedly, I did not read the 755 pages of the bill, but the media claims that it is one of the biggest investment on climate change and healthcare.
My question is two-fold:
Why is Inflation Reduction Act called Inflation Reduction Act, if it is about climate change and healthcare?
How will this Inflation Reduction Act lower inflation? From the surface, it seems like huge government expenditure on climate change and healthcare may have opposing effects, if anything.