Former Treasury Department Official Claims Inflation Reduction Act Will Move US Toward ‘Neo-Marxist’ Economic Model

A high-ranking official at the U.S. Department of Treasury has taken aim at the Inflation Reduction Act recently signed into law by President Joe Biden, alleging that the act which purports to prioritize environmental concerns is a means of “reengineering” the U.S. economy to favor “neo-Marxist” ideals.

Monica Crowley, who served as assistant press secretary for the Treasury Department under President Donald Trump, spoke to reporters on Fox News on Tuesday, warning that the Inflation Reduction Act marks a departure from free market ideals and toward the collectivist economic models favored by communist dictatorships.

“Here we have another bill that is moving this country away from economic freedom and free market capitalism toward a more neo-Marxist kind of collectivist model,” Crowley said. “So when the Left talks to you about climate change, when they say they’re really interested in preserving the environment, they might have some top-line concern about those issues. But that’s not what any of this is about. What it’s about is, again, reengineering the U.S. economy, and because the energy sector is the biggest lever that’s available to them in order to achieve that, that’s what they continue to attack, and that’s why they continue to spend the way they do.”

Crowley’s emphasis on the environmental promises of the act is in keeping with the content of the bill itself, which entails a great deal of ink spilled over policies to reduce man-made carbon dioxide emissions in the atmosphere, among other provisions seemingly unrelated to inflation.

The Inflation Reduction Act entails a broad scope of new policies, which the bill’s authors summarize “will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. The bill will also finally allow Medicare to

*As an Amazon Associate I earn from qualifying purchases