News: August 3, 2022. The "Inflation Reduction Act" Plans to Tax Oil Companies by 25 Billion US$ and Plans to Spend 350 Billion US$ in "Climate Change Measures"

The "Inflation Reduction Act" intends to tax oil companies by about 25 billion US$. This would most likely affect the profitability of the companies that are providing energy to the country. By doing this, this new law (if approved) would discourage fossil fuel investments. The intention seems to force the development of "green" energy projects.

This potential new law, also plans to spend 370 billion US$ in measures destined to fight "climate change". It is hard to understand how extra spending would help reduce inflation, specially when there is a fiscal deficit and the national debt keeps increasing.

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This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.