Just 12% of Americans believe the 'Inflation Reduction Act' will actually reduce inflation

Nearly 60% believe it will do nothing or drive inflation up.

Published: August 6, 2022 10:46am

Updated: August 6, 2022 11:30am

A dismal 12% of Americans believe that the gargantuan Democratic-sponsored "Inflation Reduction Act" will actually reduce inflation, according to a new poll released this week.

The Economist/YouGov poll, which queried 1,500 U.S. adults, asked respondents their feelings on the $369 billion "Inflation Reduction Act" currently making its way through Congress this week. 

Just 12% of respondents said the bill would "decrease inflation," while 36% expressed a belief that it would actually increase it. Twenty-three percent said the bill would do nothing either way, while the remaining 29% were unsure. 

A bare 51% majority, meanwhile, said they actually supported the bill — which includes heavy investments in green energy and a tax hike on large corporations — while nearly 1/3 were opposed, and the remaining 17% were unsure. 

The bill is set to be debated this weekend.

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