Senate Republicans have warned that the passing of the $700 billion “Inflation Reduction” bill would result in the Democrats “paying the price.”
On Sunday, the Democratic-controlled Senate greenlighted the enormous spending package, which aims to decrease inflation and the deficit while “extending the enhanced Obamacare subsidies, funding over $300 billion on climate change projects, and allowing Medicare to negotiate drug prices,” according to a news story.
After months of resistance, and after moderate Sen. Joe Manchin (D-WV) negotiated a compromise with President Biden, the bill passed along party lines. Vice Pres. Kamala Harris supplied the deciding vote by voting in favor of it.
After the vote, GOP National Committee Chairwoman claimed that Dems will face repercussions in November’s midterm elections.
“Democrats will pay a price in Nov. as a result of their tax increases on families during an economic downturn,” McDaniel stated.
Sen. Ted Cruz (R-TX) made similar comments, stating that the Democrats have “seriously harmed” middle-income earners by catering to their “radical left wing.”
“The Schumer-Manchin bill will cause inflation to rise, prices to go up, small businesses and American manufacturing to suffer, gasoline costs to rise, and the IRS to come after Americans in nearly every tax bracket—including people that make under $400,000 a year—according to Ted Cruz.”
In a statement on Twitter, Sen. John Kennedy (R-LA) compared the legislation to a “special kind of stupid.”
“It’s a special kind of stupid to increase taxes in both a recession and an inflationary period—that’s called stagflation, which we’re experiencing as a result of President Biden’s policies right now,” Kennedy tweeted.
“The Dems’ irresponsible tax and spending plan that includes almost $370 billion for the Green New Deal, $64 billion on Obamacare, and hundreds of billions of new taxes on American manufacturers and businesses,” tweeted Sen. Marsha Blackburn (R-TN).
“$80 billion will be used to double the number of IRS agents—nearly giving everyone in the country a personal tax auditor. We should be lowering taxes, not raising them,” she went on. “It’s a shame that Senate Democrats have pushed through a socialist agenda that makes life more difficult and costly for Tennesseans.”