Watch: MSNBC, ABC, CNN realize Inflation Reduction Act doesn’t reduce inflation after bill is passed

Left-leaning media networks, including MSNBC, ABC, and CNN, finally realized that the Inflation Reduction Act does not actually reduce inflation, but not until the massive spending package had already been signed into law. 

The bill, which was passed by the Senate earlier this month and the House of Representatives last week, costs an estimated $437 billion, with $369 billion going toward investments in "Energy Security and Climate Change," according to a summary by Senate Democrats.

Democrats claim the legislation will soften the deficit by raising $737 billion, imposing a 15% corporate minimum tax which is predicted to raise $222 billion, and prescription drug pricing which the Senate estimates will raise $265 billion. 

One thing the Inflation Reduction Act is not expected to do, according to multiple analyses, is reduced inflation. The Congressional Budget Office said the bill will have "a negligible effect" on inflation in 2022, and in 2023 its impact would range between reducing inflation by 0.1% and increasing it by 0.1%.