The Wall Street Journal’s editorial board has written a scathing opinion piece against the Biden administration, based on a newly released research report by Goldman Sachs regarding the Inflation Reduction Act (IRA).

The IRA, which was expected to reduce the budget deficit, has been projected to cost taxpayers $1.2 trillion by Goldman Sachs, due to accounting techniques and Democrats’ interpretation of tax credit conditions.

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In the report, Goldman says that the actual cost of the IRA is three times more than what was forecasted.

The Wall Street Journal says Democrats used “accounting gimmicks” when saying it would reduce the deficit.

Read more at The Wall Street Journal