The so-called 'Inflation Reduction Act' will double the size of the IRS, as it adds 87,000 new employees. Despite Biden's promises not to raise taxes on anyone making less than $400,000, this bill raises taxes on Americans in every income bracket.
SAN DIEGO – Congress has passed the so-called “Inflation Reduction Act,” but many critics and opponents say the name is a misnomer.
The Senate voted 50-50 on the legislation, but Vice President Kamala Harris cast the tie breaking vote to send the bill to President Biden’s desk. Democrats say dedicating massive amounts of money to fight climate change will help the U.S. economy, while Republicans worry spending more in the middle of a recession is the antithesis of what we should be doing.Republicans are concerned Democrats are raising taxes on Americans during a recession. But back in 2021, Rep. Sara Jacobs said the quiet part out loud, tweeting “Tax me more.
And despite Biden’s constant claims that he will never raise taxes on Americans making less than $400,000, this bill does just that.of those earning between $100,000-$200,000 would see a tax increaseof those earning between $40,000-$50,000 would see a tax increaseKUSI Contributor Mark Larson joined KUSI’s Good Morning San Diego team, and explained why it’s crazy that the Biden Administration believes spending more will decrease inflation.
This afternoon I cast the tie-breaking vote on the Inflation Reduction Act. This bill will help lower inflation and the cost of living for millions of American families—lowering the cost of health care, prescription drugs, and everyday energy costs.
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