Saturday, August 13, 2022

In Context: Prices and Power

President Biden summarized the intended effects of the Inflation Reduction Act as, “families will see lower prescription drug prices, lower health care costs, and lower energy costs.”

Prices, at the most basic level, are the meeting points of agreement between sellers and buyers. Sellers try to earn as much money as possible, and buyers try to spend as little as possible. The range of where those two factors overlap is where one finds successful prices.

High prices are a symptom of low competition for products or services. Supply is low and/or demand is high. High prices of established products like insulin are, more specifically, symptoms of competition suppression. Market suppression can be caused by both government policy and private parties manipulating the system for protecting intellectual property.

Weekly Congress Update

Daily Digests HouseSenatePrayersCommittee Reports

SenateDaily Leader Remarks • Actions begun, passed

Dems' climate, tax and health care bill survives all-night GOP onslaughtDemocrats fail to overrule parliamentarian on insulin price cap, These seven GOP senators voted to keep $35 insulin cap in reconciliation bill (57-43) • Every Senate Democrat votes against defining pregnancy as unique to biological femalesSenate passes Inflation Reduction Act after all-night vote series, Harris breaks tie

Biden cheers, hails'We are elated:' Chuck Schumer revelsSenate Democrats celebrate • 'Now I can look my kids in the eye:' Senate Democrat breaks down in happy tears over climate victorysends to House: Five takeawaysSinema, Manchin and the anatomy of a dealSenate Republicans object

Senators Young and Braun of Indiana remembered Rep. Jackie Walorski of Indiana and the Senate agreed to S.Res. 748, a resolution honoring and celebrating the life and legacy of Representative Jackie Walorski.

HouseBill (H.R. 5376)

Pausing recess — Dems' big bill hits the House • House approves sweeping climate, tax, health care packageBiden praises

Sunday, August 7, 2022

Pro-Life analysis of Senate-passed H.R. 5376, the Inflation Reduction Act

Today, by a party-line vote of 51-50, the Senate passed H.R. 5376, the Inflation Reduction Act of 2022. The bill expands taxpayer funding for abortion through ACA, and supercharges the IRS, which could potentially target pro-life organizations and donors.

The Schumer-Manchin-Sinema reconciliation bill extends for three years (through 2025) the temporary expansion of the Affordable Care Act (ACA) premium tax credits that was made by the American Rescue Plan Act and currently expires at the end of this year (see subtitle C, on pg. 245).

Referral Link

Have you looked at mobile phone service carrier Tello?
  • Great affordable plans (like $10/month for unlimited talk/text, 1 GB of data)
  • useful app for making calls if out of range
  • start with $10 free

Blog Archive


Enter your email address: