(The Center Square) – The U.S. House passed a $740 billion package Friday that raises taxes on large businesses, funds green energy initiatives, allows the federal government to set caps on certain prescription drugs, and doubles the size of the Internal Revenue Service to expand audits.
The measure, dubbed the Inflation Reduction Act, passed strictly along party lines, 220-207, with Democrats in support and Republicans opposed. In its analysis, the nonpartisan Penn Wharton Budget Model reported it would actually increase inflationary price hikes over the next two years.
The Senate added amendments to the measure on Sunday before passing it along party lines and sending it back to the house for Friday’s concurrence vote. The bill now heads to President Joe Biden, who’s said he would sign it into law.
This “is a robust cost-cutting package that meets the moment, ensuring that our families survive and that our planet survives,” House Speaker Nancy Pelosi, D-California, said moments before the vote.
Republicans disagree.
“Remember this day,” House Minority Leader Kevin McCarthy, R-Calif., said. “When Democrats jammed through a 700-page bill that raises your taxes and doubles the size of the IRS.”
See the party line vote here.
Among other provisions, the act authorizes spending of $386 billion for clean energy and climate initiatives, including more than $270 billion in tax credits for manufacturing solar panels, wind turbines, batteries, green energy technologies and electric vehicles.
Republicans say the increased spending is corporate welfare and will add to elevated inflation.
The act would allow the Department of Health and Human Services to set caps on the prices of several prescription drugs, including a monthly $35 cap on insulin copays for individuals. Critics say the caps will discourage pharmaceutical companies from investing in new drug development and lead to higher health care costs in the future.
It imposes a 15% minimum income tax on companies with revenue over $1 billion. And it provides $80 billion to the IRS to hire roughly 87,000 new auditors.
The Biden administration argues the funds gained from auditing Americans will more than pay for the $80 billion in new spending, but critics say small businesses and middle class families will pay the price.
“Sen. [Chuck] Schumer calls the Inflation Reduction Act a ‘game changer,’ but the experts and economists call it a $740 billion scam that fails to reduce inflation, slash prices, or crack down on wealthy tax cheats,” Burgess said in a statement. “Instead of working to provide relief, the Inflation, Recession, and IRS Army Act increases inflation, raises taxes on Americans earning less than $200,000 per year, and weaponizes the IRS by bankrolling 87,000 new agents to audit all income levels. This partisan package only makes life more difficult and expensive for everyday Americans.”
“It would be mainly America’s 30 million small businesses,” Chris Edwards of the CATO Institute said, as The Center Square previously reported.
The government looking out for you—just not in the way they are saying.
“Instead of working to provide relief, the Inflation, Recession, and IRS Army Act increases inflation, raises taxes on Americans earning less than $200,000 per year, and weaponizes the IRS by bankrolling 87,000 new (Nazi Gestapo) agents to audit all income levels. This partisan package only makes life more difficult and expensive for everyday Americans.”
The treachery of the treasonous, socialist Democrat Party know no bounds.
Looking out for whom? CERTAINLY NOT we the tax victims..
The expansion of the IRS armed enforcement teams alone will line THE PEOPLE up in droves to vote Democrats all out of office. The size of the Democrat vote fault created by this IRS investigative earthquake will more than cancel ANY votes gleaned by the Roe v Wade Supreme Court Ruling they were counting on this fall, and abort more guilty Democrat candidates in one year than Roe did to innocent babies. Tax oppressions are way more up close and personal to THE PEOPLE of BOTH sexes, than any potential unwanted births. Throw in the 80 more imaginary Democrat created genders and it can only end badly for the Democrats this fall.
This Treasonous, dishonest, destructive, Socialist Democrat Party’s objective is to deliberately lie, cheat and steal elections in order to take total control of the American people, by restricting U.S. oil production, increase Taxes and enforcement by their political IRS police and the cost of everything and bring American commerce and economy to its knees and to promote Socialism.
Then access power and retain it by any means available –
no matter the costs to the people, the government or the nation.
This treasonous, hateful, destructive, immoral, socialist Democrat Party and their corrupt, demented puppet president has become our country’s most destructive and deadliest ENEMY!
Scruffy you just described the SATAN WORSHIPPING DEMONCRATS to a T . The DEMONcrats hate everything that is good in the country, great economy let’s take it down, energy independence let’s wipe that out, having the best of things well that’s gotta go. Yeah the SATAN WORSHIPPING DEMONCRATS hate the things that are good and good for the people, they want and desire for the people to be in misery and without and lacking what they need, all the while, while those in office eat and drink like they are kings and queens, well those in office for the most part are demons, the way they talk, the way they act, the way are, and the way they walk, these are not normal people they ard in fact demons .
” U.S.yHouse Passes $740 Billion Manchin, Schumer Bill That Also Expands IRS
Dan McCaleb | The Center Square | Aug 13, 2022 |”
Bernie Sanders Is a socialist, Van Jones is a communist, The Two are Members of the democrat Party.
To the Subject- Winston Churchill Once Said, ” We Contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle .” AZ QUOES
”
At a press conference on August 12th, 1986, US President Ronald Reagan said, “The nine most terrifying words in the English language are ’I’m from the government and I’m here to help.’”
Ronald Reagan “Most Terrifying Words – ‘I’m from the government and I’m …
http://www.professorbuzzkill.com/reagan-terrifying-words/
http://www.professorbuzzkill.com/reagan-terrifying-words/
BUT will they vote?? OR will too many sheeple be too scared?
Our nation is lost, lost to communism. The RINOS, because they say nothing, are complicit with the communist Democrats. Several RINOS, like Laura Ingraham said, voted for the so called infrastructure bill along with the Democrats, which allowed the Inflation Expansion Act to be passed by reconciliation in the Senate. When Senator Cassidy (RINO traitor) voted for the infrastructure bill, Ingraham told Cassidy he had just handed the communist Democrats a victory, because the Democrats down the road would pass Biden’s screw us back better bill through reconciliation (only 50 Senators needed with Kamala breaking the tie) and look what happened. Traitor RINOS like Cassidy and Lindsey. Our nation is in a whirlpool, a whirlpool that is sucking the life out of our Constitution and sucking us down the sewer, into a communist nation!
Well are you now going to start calling these scumbags in offices what they are?
What we have ruling this nation at this time are demons hence the party name SATAN WORSHIPPING DEMONCRATS, communist does not even fit them any more, they are out and out DEMONS the name of the party is even demonic by name.
87,000 more gubment thugs to keep us all in line. Look for late night raids to become more common. The US is turning into a dictatorial state (may already there). Just ask Donald Trump.
AND You can bet obama/clinton judges, will just RUBBER STAMP their warrants to DO SAID raids.. AND they will only be against WE CONSERVATIVES.
I cannot see Blm, Antifa, MX13 or any other leftist aligned group, ever being raided..
Blm used tax free money to buy Mansions. But no fbi investigation, not irs investigation. Republicans in Congress needs to ask why ??
THEY KNOW why.. THE IRS only targets CONSERVATIVE groups!!!
Sort of reminds a person of ancient Rome where everyone was taxed to death so the lazy rich, who got that way on the backs of the tax payers, can live a life of ease. Just like today’s dummycrat party.