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Opinion What the Inflation Reduction Act will and won’t accomplish

Julian Zelizer: Senate Democrats' reconciliation bill deserves a dispassionate accounting. He says the bill may not reduce inflation, but it's a laudable achievement for the Democratic Party. Zelizer says the macroeconomics of the bill, in the end, are less interesting than its policy particulars: in prescription drug pricing, health care, climate and taxes. But in all of these areas, the new status quo still isn’t satisfactory, he says, and there’s plenty more to do to reform the status quo. The House of Representatives is expected to vote on the bill on Friday, but its fate is finally close to certain, Zelizer adds up to certain; the bill's fate is still uncertain.