No intent to return to Congress for inflation act amendment
TL/DR –
The White House has confirmed that there are no plans to push for changes to the Inflation Reduction Act, despite concerns from European leaders. President Joe Biden had specified that tweaks could potentially be made to facilitate European countries’ participation, or enable them to establish their own similar provisions. However, White House Press Secretary Karine Jean-Pierre reassured that the administration is working to address Europe’s concerns through substantive consultation with their European counterparts.
White House Says No Planned Changes to Inflation Reduction Act
The White House confirmed on Friday there are no current plans to appeal to Congress for adjustments to the Inflation Reduction Act. This announcement came after President Joe Biden mentioned possible amendments to mollify European leaders’ concerns.
White House Press Secretary Karine Jean-Pierre stated, “We don’t intend to request congressional changes to the inflation.” Jean-Pierre further explained the complexities of implementing such historic legislation like the Inflation Reduction Act, now under way at federal agencies.
During a joint press conference with French President Emmanuel Macron, Biden suggested potential tweaks that could simplify participation for European countries, or allow them to operate independently.
Concerns exist among European nations that the tax incentives in the $430 billion Inflation Reduction Act could undermine their own companies in favour of North American corporations.
Jean-Pierre assured that there are methodologies to address Europe’s concerns. “We are actively negotiating these matters through focused dialogues with European counterparts,” she added.
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