I Prayed have prayed
Father, we lift up this bill and our economy before You. Prevent out government from engaging in any more reckless spending, God, and give our leaders wisdom as they seek to heal our economy.

While Manchin has reached an agreement with his fellow democrats, hundreds of economists are wary of how his bill will affect the economy.

From Fox Business. A letter sent to House and Senate leadership from 230 economists argue that the Infrastructure Reduction Act is expected to contribute to skyrocketing inflation and will burden the U.S. economy, contrary to President Biden and Democrats’ claims.

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The economists wrote in the letter first obtained by Fox News Digital that the U.S. economy is at a “dangerous crossroads” and the “inaptly named ‘Inflation Reduction Act of 2022’ would do nothing of the sort and instead would perpetuate the same fiscal policy errors that have helped precipitate the current troubling economic climate.”

Sen. Joe Manchin, D-W.Va., announced last week he reached an agreement with Senate Majority Leader Chuck Schumer, D-N.Y., on the $739 billion reconciliation package after more than a year of negotiations among Democrats.

The economic experts point out the $433 in proposed government spending, which the experts argue “would create immediate inflationary pressures by boosting demand, while the supply-side tax hikes would constrain supply by discouraging investment and draining the private sector of much-needed resources.”

They also write that of “particular concern” is the corporate minimum tax that they say will undercut efforts to restore functioning supply chains.

In addition, the bill’s prescription drug provisions “would impose price controls that threaten healthcare innovation, creating a human health toll that would add to the financial woes that Americans are already experiencing.”

A few of the notable signers include Nobel laureate Vernon Smith, former Chair of the Council of Economic Advisers Kevin Hassett, former Director of the Office of Management and Budget Jim Miller and Robert Heller, former president of the Federal Reserve Board 1986-1989.

In addition, professors from the University of Chicago, Princeton University, Duke University, University of Virginia, Columbia University and the University of Notre Dame, among others, were listed on the letter dated Aug. 3.

The experts conclude that although they agree with an “urgent” need to address inflation, Manchin’s bill is a “misleading label” applied to legislation that would achieve the “opposite effect….”

What do you think of the Infrastructure Reduction Act? Share your thoughts and prayers below.

(Excerpt from Fox Business. Photo Credit: Getty Images)

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Darlene Estlow
August 6, 2022

Father in your mercy please let this bill die! May the parliamentary find it cross the line and needs 60% of the vote. We look to you that in your mercy you would restrain these foolish expenditures. We praise you because you are working and using the awful things that are happening to draw people to repentance in and salvation as they see their own words drying up. We praise your name.

August 6, 2022

Dear Lord,
I pray you defeat this inflation causing bill before it becomes law.
In Jesus name I pray,

Beth Nachbar
August 6, 2022

Lord God Almighty,
please expose and destroy the wickedness in this bill. Change the hearts of those in authority to want what You want for our nation. Please give us the economy and budgets that You want for our nation, our states, cities, and localities. Reveal Your strategy to our leaders for wise stewardship and for a debt-free U.S.A. Position the right people in the right places, people who will obey Your will in managing our tax dollars and other revenue. Let the U.S.A. become financially unencumbered so that it can be the light You desire it to be to the world. In Jesus’ Name I pray, Amen!

Sue Tracy
August 6, 2022

Lord You are our King of Kings, The Great I Am we love you and worship you. Lord redirect and orchestrate this nation to stop the direction it’s going and to ask you to lead this nation; heal and restore anything that is not your will for us.


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