Manchin admits 'Inflation Reduction Act' won't tame inflation for Americans anytime soon

Sen. Joe Manchin, D-W.Va., said after President Biden signed the Inflation Reduction Act that it would take some time before investments brought down prices nationwide for Americans

Bradford Betz and Hillary Vaughn / FOXBusiness

 

Sen. Joe Manchin, D-W.Va., on Tuesday admitted that the Inflation Reduction Act won’t "immediately" temper inflation, telling reporters that the necessary investments needed to bring down prices would take some time. 

 

Manchin’s comments came after President Biden signed the landmark climate change and health care bill into law on Tuesday, delivering what he has called the "final piece" of his pared-down domestic agenda. Though Democrats have labeled the measure the Inflation Reduction Act, nonpartisan analysts have said it will have a barely perceptible impact on prices.

Asked by Fox News reporter Hillary Vaughn whether it was misleading to call the bill the Inflation Reduction Act because it won’t make everyday goods less expensive, Manchin said, "Why would it?"

"Well, immediately it’s not," Manchin said. "We've never [said] anything would happen immediately, like turn the switch on and off." Read more and see video here.