just for years, for decades on, and maybe there is a psychological shift that comes with passing something that the party has long called for and has never been able to do. i have to say that the democrats have often failed in their branding, the build back together, no one really understood what that meant, this is literally, sam, inflation reduction act, you can t get clearer about the implication of what to the bill is. you like the brand name? not the acronym, let s be clear, but the inflation production act, i have to say, whoever came up with that that is actually genius because for once they are clear about what the democrats are trying to do. and then when you try to dig into the meat and potatoes of it, for young people is going to be 375 billion dollars to address climate change, that is a huge deal for a generation of young people who have basically said i don t think i m going to vote this election. when it comes to prescription
clear, but the inflation reduction act. i have to say, whoever came up with that that is actually genius because for once they are clear about what the democrats are trying to do. and then when you try to dig into the meat and potatoes of it, for young people is going to be 375 billion dollars to address climate change, that is a huge deal for a generation of young people who have basically said i don t think i m going to vote this election. when it comes to prescription medicare drug pricing, you have something for the older people, and then you have talking about inflationary pressures, you have something for independents. i have to say that they have stumbled so many times but on this bill they have the messaging right and they have the issues that people need to come out to the midterms is true. i know that shermichael was talking about gas prices, they keep coming down, if in the middle of august we have low prices, what s the democrats are facing going into the fall is all the ri
they should be helpful to american families. it will help us deal with inflation. other economic organizations that studied this bill. it will have a mental impact on inflation. 755 pages long. half of the billion-dollar cost goes to paying down the deficit. paid for with new corporate taxes including a 15% minimum tax on the largest corporations. $375 billion goes to combating climate change. some 80 billion will grow the irs adding some 80,000 new agents. republican succeeded for those buying the private market. the national committee said in a statement democrats will pay the price in november for raising taxes on families during recession. president biden says the bill does not raise taxes on anyone earning less than $400,000 per year. the bill will not go on the
value for money. the house of commons public accounts committee is chaired by dame meg hillier, whojoins us now. thanks forjoining us on bbc news. these reports state downing street s response to the crisis has exposed a uk taxpayer to a significant financial risk, how significant? you hiuuhlihted financial risk, how significant? 7m, highlighted that figure of £375 billion spent on the covid response was not unexpected we would be spending huge sums of money on an unprecedented pandemic. but there is a cost to managing that. and in the past decade, we have seen cuts through the austerity programme, because of the then government s desire to tackle some of the challenges in the public finances. and yet, you know, that s going to be very difficult if the government takes that route, could raise taxation, it could borrow more. they all have risks. with every pound spent on paying interest on borrowing is not a pound that could be spent on delivering public services. it is not a surprise
in just yesterday the trade war between the u.s. and china erupted when china said it would put new tariffs on 375 billion of goods. china is the fourth largest export market. trump s reply on twill twitter g u.s. companies not to do business with china. caught in the middle of this trade war are us farmers. president trump says they understand why this has to happen. well, roger johnson is the president of the national farmers union and a third generation farmer. good to see you. you said on friday that new tariffs on china only make matters worse. so how will this add to the u.s. farmers suffering in your view? well, let s start by understanding that net farm income in the u.s. is half of what it was six years ago. so there s a lot of financial stress out there right now. farm debt levels are as high as