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Recently, Hurricanes Helene and Milton have caused widespread destruction across the U.S. Southeast in a deadly Atlantic hurricane season that has already named 13 storms and claimed over 300 lives in 2024. In order to keep yourself and your loved ones safe after a disaster, it is essential to find and share information from trusted sources.
Claim: Donald Trump claims his proposed economic policies will reduce inflation if he is re-elected for a second term this November.
Rating: This claim is FALSE.
Over the summer, Congress passed the CHIPS Act, which was signed into law by President Joe Biden. Here is how the CHIPS Act will strengthen American manufacturing and slow China’s advancement in smartphone manufacturing.
Claim: President Joe Biden’s administration has claimed that the Inflation Reduction Act will provide inflation relief to Americans.
Rating: This claim is MOSTLY TRUE. The Inflation Reduction Act does not seek to directly affect inflation by altering monetary policy, which is the role of the Federal Reserve Bank. Instead, it seeks to address some of the historical causes of inflation by tackling health care and energy costs. It also invests in renewable energy and energy manufacturing, which protects the United States from global events that affect energy supply and cost.
Claim: The White House claims that the Inflation Reduction Act will fight climate change and invest in climate solutions, and it is “the most significant climate legislation in U.S. history.”
Rating: This claim is TRUE. According to impartial climate change experts, the Inflation Reduction Act will help the United States reduce greenhouse gas emissions by 40% by 2030.
The American public is currently concerned about the growing inflation, where the American dollar has less purchasing power than it did before, and the cost of goods have gone up. What is the cause of inflation and when are prices expected to go back down?