👀 Ones to watch: Undervalued stocks to buy before they report Q3 earningsSee Undervalued Stocks

No plans to go back to Congress to change inflation act - White House

Published 12/02/2022, 02:51 PM
Updated 12/02/2022, 02:55 PM
© Reuters. FILE PHOTO: U.S. White House Press Secretary Karine Jean-Pierre speaks during a daily press briefing at the White House in Washington, U.S., November 18, 2022. REUTERS/Elizabeth Frantz

WASHINGTON (Reuters) - There are no plans to go back to Congress to push for changes to the Inflation Reduction Act, the White House said Friday, a day after President Joe Biden said it could be tweaked to appease European leaders.

"We don't have any plans to go back to Congress for legislative changes to the inflation," White House Press Secretary Karine Jean-Pierre told reporters. "For any historic legislation like IRA there is a complex implementation and process which is actively under way at federal agencies," she said.

During a press conference with French President Emmanuel Macron Thursday, Biden said "There are tweaks that we can make that can fundamentally make it easier for European countries to participate and/or be on their own."

© Reuters. FILE PHOTO: U.S. White House Press Secretary Karine Jean-Pierre speaks during a daily press briefing at the White House in Washington, U.S., November 18, 2022. REUTERS/Elizabeth Frantz

European countries worry tax breaks in the $430 billion Inflation Reduction Act for North American companies will disadvantage their own.

"There are ways we can address Europe’s concerns," Jean-Pierre said. "This is a matter we are working out through substantive consultations in European counterparts," she said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.