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The most powerful business lobby in the United States is not a fan of the landmark heat care and climate package President Joe Biden is expected to shortly sign into law.
“Business Roundtable opposes the ‘Inflation Reduction Act,’ which, among other things, includes tax provisions that would undermine American economic growth and competitiveness,” the group said in a statement shortly before the measure was passed by the Senate.
But analyzes by Wall Street institutions published over the past week found that the impact on corporate earnings would likely be limited, though some sectors could be more affected than others.
Breaking it down: The two provisions in focus