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The Roundtable: Inflation Reduction in One Act?

Congress has passed a bill to relieve inflationary pressures on average Americans. Will it accomplish anything?

In this week's Roundtable Roundup, a panel of commentators from across the political spectrum discuss the inflation reduction act, partisan politics and mainstream media in the U.S. In this segment, they analyze the Inflation Reduction Act recently passed by the Congress. 

The political analyst Niko House is skeptical of the law, saying that inflation is far too complex to be addressed by any single piece of legislation. 

"Inflation is more than just the price of goods," he says. "It includes interest rates. It also involves the ratio between average income, income inequality, and obviously the cost of living. The bill doesn't address any of that."  

He continued, "If you offer some help with housing, are you reducing the prices? Are you preventing predatory companies like BlackRock from outbidding everybody on houses? No. So, you're not actually addressing inflation. What you're doing is putting money in somebody's pockets. We're not exactly quite sure who yet, but I'm sure we'll figure it out." 

Sharon Kyle, publisher of the LA Progressive, says that marginalized communities have always been a bellwether when it comes to inflation, and should be seen as such in the context of current efforts to address the problem. 

"This Act is a mere shadow of what Build Back Better was and what the people have been very adamant that we need—universal healthcare, universal pre-K, green energy. We have demonstrated since the beginning of this country that there are people who just don't matter," she said.  

"We need to be paying attention because what happens to black and brown communities will ultimately happen to the rest of us."

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Watch the full discussion below:

Roundtable Guests:

Sharon Kyle, Co-Founder, LA Progressive

Niko House, Host, MCSC Network

Alex Mascioli, Co-Founder, Trade the Chain

Xavier Hawk, Founder, Phireon