The “Made in China” Inflation Reduction Act by Joe Biden: Billions to China, Medicare Cuts, and Job Losses in America

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Unveiling the Truth Behind Biden’s Economic Program

Amidst the political uproar, Donald Trump’s recent video message calling out Joe Biden’s economic policies towards China sparked controversy. The mainstream media rushed to defend Biden, but is there truth to Trump’s claims?

Examining the situation reveals a startling reality – Biden’s policies are indeed benefiting China at the cost of American jobs.

The Inflation Reduction Act: A Closer Look

One of the key initiatives, the Inflation Reduction Act (IRA), aimed to combat inflation and boost American industries. However, it has inadvertently become a platform for Chinese Communist Party gains.

While China expands its military presence near the US, Biden’s policies seem to favor China’s interests over America’s.

An Unexpected Opposition

Even within the Democratic party, voices like Sen. Joe Manchin have criticized Biden’s Clean Vehicle Credit under the IRA. The initiative, intended to support American companies, has instead allowed China to exploit tax credits meant for US businesses.

The Medicare Conundrum

As Biden allocates funds to China through the IRA, American seniors face cuts in their Medicare coverage. The repercussions are dire, with billions flowing to China while essential healthcare services are compromised.

Proposed expansions to the IRA could further harm the US biopharma industry, echoing Chinese-style control measures in the legislation.

The Impact on American Jobs

Beyond healthcare, Biden’s policies threaten American jobs. The proposed price controls and tax implications could lead to significant job losses in the biopharma sector, jeopardizing future medical advancements.

A Bleak Future

As Biden’s economic program unfolds, the risk of job losses and industry decline looms large. With potential hindrances to new drug developments and job cuts on the horizon, the impact on America’s economy is concerning.

Final Verdict

In light of these revelations, Trump’s assertion holds weight – Biden’s economic program does prioritize China at the expense of American interests. The implications are clear – Biden’s policies are detrimental to the nation’s economy and workforce.

Read More of this Story at – 2024-05-18 11:50:07

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