The Biden administration has faced heavy criticism for many decisions. Republicans have blasted Joe, accusing him of triggering several nationwide crises.
But things might be much worse than most think.
Biden has been accused of trying to siphon tax funds to liberal pet projects. Often, these left-wing priorities are backed by powerful Democrat donors. Now, it is being revealed that Biden’s so-called Inflation Reduction Act is being used to take money from senior citizens’ healthcare.
From Just the News:
The Biden administration took an unprecedented step of rolling its climate agenda into a health care concern with the passage of the Inflation Reduction Act (IRA)…
Medicare provisions within the IRA are siphoning funds into green energy policies…
Writing in the Wall Street Journal, Mark Merritt, president of Proactive Strategies Group, said that only about 15% of the $280 billion in savings from the program goes into Medicare. The bulk of the savings, Merritt explained, are going to support the $7,500 electric vehicle tax credit.
In what some might call a massive case of trickery, Biden’s “inflation” bill is being used to take money from Medicare to fund his green agenda. The law allows the Secretary of Health and Human Services the power to negotiate the price of prescription drugs provided through Medicare.
If a company isn’t willing to negotiate for a lower price, they are subject to a 90% tax on all their earnings. So, it appears the Biden administration is exploiting drug companies through this law.
But the money being saved from this move isn’t going back into Medicare. Only 15% of the $280 billion is going into the healthcare program. The rest is being used to prop up Biden’s $7,500 tax credit on EV purchases.
Critics have pointed out that this tax credit is only benefitting wealthy Americans who can afford electric cars. So, it seems Biden is taking money from senior citizens to reward rich liberals.
This news will not go over well with voters. Some might be angered, since this process looks so complicated, as if Democrats were trying to hide it from taxpayers.
Biden’s green agenda has been collapsing since the very start of his administration. The news that he’s hurting Medicare to keep it going will not please most Americans.
- The Biden administration has been accused of siphoning money from Medicare to fund green initiatives.
- Money saved through drug price negotiations isn’t going back into Medicare.
- Instead, these hundreds of billions of dollars are propping up a $7,500 EV tax credit.
Source: Just the News