The Senate passed yesterday the Inflation Reduction Act. The Senate approved a huge spending bill in accordance with reconciliation rules. It was passed by 50-50. This bill will create a huge amount of deficit spending and massive aid for climate change projects. It also adds tens to thousands of IRS agents that harass the middle and lower classes.
But, curiously enough, reporters and politicians praising the passage of the bill aren’t actually mentioning the name of the bill: The Inflation Reduction Act.
I mentioned this on Saturday, when CNN’s John Harwood chastised Sen. Marco Rubio for calling the bill a “garbage bill.” But Harwood isn’t the only one.
Senate Democrats approve bill that includes the largest climate investment by US citizens and lower healthcare costs. It heads to the House.https://t.co/w02zl6sHbB
— CNN (@CNN) August 7, 2022
We did it. It was the largest climate bill ever passed in any country. That is what brought me to the Senate. While the fight continues, however, for the first-ever time in history, the American government has taken equal action.
— Brian Schatz (@brianschatz) August 7, 2022
It’s done: The Senate has passed the Dem climate and health care bill 50-50, with VP Harris casting tie-breaker. This was an extremely long and torturous road. It culminated with 15 hours spent voting on amends. Dems stood together until the end.
— Igor Bobic (@igorbobic) August 7, 2022
The Senate is finally moving forward with transformative climate legislation. It has taken a while. Thanks to Senators Schumer & Manchin as well to all Senators that fought for climate action to be a priority of this bill. We now move to the House.
— Al Gore (@algore) August 7, 2022
You could continue on, but this is a clear indication that there was no Inflation Reduction Bill.
Build Back Better is v2.0. This is an IRS handout so Democrats can finance their favorite projects, harassing and fleecing small business owners and the middle class. This is an aid to the upper class who wish to switch to electric cars. This is for pet manufacturers of these vehicles.
You give massive subsidies to high inflation while raising taxes in a recession. You are violating basic economic principles in a very unstable economy.
This bill is the result of Democrats bargaining with themselves. There was no Republican input at any point. They couldn’t even get the most liberal Republican in the Senate, Lisa Murkowski, on board with the bill. At no one was it ever anything other than the Affordable Care Act all over again – final passage of a Democrat bill with Democrat ideas and no attempt at getting bipartisan support.
If you’ll recall, the whole reason Americans were encouraged to dump Trump was to bring back normalcy and get the two sides working together again. It was too convenient for Democrats to throw that out the window.
Of course, this will pass the House of Representatives, and it will get to the President’s desk. Biden will sign the bill into law, and before it actually affects Americans, the Democrats and House of Representatives will both be gone. Republicans would have to reverse this action as fast as possible. It was a terrible mistake. It is possible that they could, but I’m not sure that they will.
This will have the greatest impact on lower and middle class Americans as well as small businesses and all those whom Democrats claim they are trying to protect. You and I will be hurt, and the rich and powerful will feel no impact by this – except when they get those sweet tax breaks to buy the latest model of their favorite electric vehicles most of us can’t afford even with the subsidy.
All of this is happening and yet the bill’s actual name, the Inflation Reduction Act, is never actually addressed in the bill or in the reporting of it. The Senate and its Democrats did a great job.
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