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Senators discuss Inflation Reduction Act

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Inflation is one of the biggest current issues for the U.S. economy and the agriculture sector is feeling the effects of higher prices. With the Iowa State fair quickly approaching and county fairs around the state of Iowa currently underway, Iowa Senator Joni Ernst says farm families are facing economic strain.

Ernst says rising costs not only effect an event like the State Fair but also what is happening at home.

Ernst claimed at the senate GOP leadership’s weekly press conference that the Democrats’ new slimmed down climate and healthcare bill will add tax hikes and further increase inflation. Senate Democratic leader Chuck Schumer says that’s not the case.

The bill would add nearly a half-a-trillion dollars to energy and climate initiatives and strive to lower prescription drug prices. Republicans cited a Penn Wharton School of Business study to argue the bill would not lower rising costs and could even add to inflation.