The Inflation Reduction Act Just Passed

Democrats recently joined forces and put together the Inflation Reduction Act. Supporters of this legislation say it will bring down costs for everyday Americans while making critical “investments” in the healthcare and climate change sectors.

However, Republicans are pulling back the curtain and exposing the dangers of this legislation. A recent review from the Congressional Budget Office, for starters, confirmed this new billion-dollar spending bill is not going to bring down inflation as Democrats claim.

Secondly, the GOP is raising red flags about the 87,000 new agents that will be added to the IRS. Democrats claim these new agents are only designed to target the wealthy and powerful. However, the number of new IRS agents to come far outnumbers the number of US millionaires and billionaires combined.

In spite of this, the Senate passed the Inflation Reduction Act days ago. On Friday, the House of Representatives followed suit.

A Nail in America’s Coffin?
Just like in the Senate, the Inflation Reduction Act passed in the House without a single Republican lawmaker voting in favor of it. Democrats heralded the legislation as a victory, with House Democrats being photographed smiling after their party’s successful vote.

Joe Biden, despite being on vacation, even weighed in via Twitter on the bill passing Congress. The president claimed that Americans “won” because of the Inflation Reduction Act being passed, while also claiming the “loser” in this is “special interests.”

Biden confirmed, following the House’s vote, that next week, he’ll be signing this bill into law. Despite the president’s claim that special interest groups “lost,” the Inflation Reduction Act fulfills the wish lists of many partisan special interest organizations.

The climate spending definitely throws a bone to the wing of Biden’s base that’s been calling for him to step up against fossil fuels and promote “clean” energy. Likewise, the tax increases are favored by special interest groups that’d like to see more social programs in this country.

Only the Beginning?
Republicans slammed Democrats on Friday, warning the latter is putting its boot on Americans’ necks at the worst time.

Likewise, the GOP stated if Democrats aren’t voted out of power in November, they’ll be emboldened to pass even more spending bills that raise taxes on Americans.

On Friday, Republicans also called out Democrats for uniformly rejecting various amendments that would have taken on issues like inflation and illegal immigration. Democrats, nevertheless, remain adamant that their Inflation Reduction Act will improve the lives of everyday Americans.