March 30, 2023 10:55 am

National News

How Will The Inflation Reduction Act Raise $739 Billion in Revenue?

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Over the next ten years, the Inflation Reduction Act (IRA) will bring in just under $740 billion and invest $433 billion of that back into programs laid out in the bill. These programs include energy tax credits and extending the subsidies on Affordable Care Act premiums. Meaning that $300 billion will be left over for reinvestment into other programs. 

The bill will bring in the nearly $740 billion by implementing a 15% tax on corporations making $1 billion or more in profit, capping the monthly price of prescription drugs to $2,000/month for individuals on Medicare, funding for the IRS to help increase tax enforcement, and creating a 1% excise tax on stock buybacks. 

The Inflation Reduction Act, with these implementations and improvements to the tax and health care system, will bring in more money for the government than the bill spends on this bill.

The Clean Water We All Deserve | Opinion

During the Islamic holy month of Ramadan, as we fast daily from food and water from dawn till sunset, let us honor and celebrate the central role of water in our lives, both physically and spiritually. This month-long spiritual experience enhances and deepens our compassion for the poor, hungry and thirsty.