Washington, D.C. – Democrats named their massive tax and spend bill the “Inflation Reduction Act” (IRA) to make it sound like something it isn’t.
Yesterday, the Congressional Budget Office (CBO) said that the bill will actually INCREASE the deficit through 2026, and the IRS will collect an additional $60 BILLION from taxpayers in IRS audits than previously estimated.
This tax revenue, which is on top of an already estimated $80 BILLION, will be collected by the 87,000 new IRS agents that the bill also calls for hiring.
Oh, and the bill will have zero impact on inflation.
Statement from NRSC Spokesman T.W. Arrighi: “The next time Democrats tell you they have a fiscally responsible bill to pass, hide your wallet because it is going to cost you. As America fights its way out of COVID and Democrat-induced economic malaise, the last thing Congress should be doing is pumping out more taxes and IRS agents to harass working Americans. Sadly, in the mind of liberals, the only economic solutions imaginable are taxes and spending. Yet not one vulnerable Democrat spoke out against this reckless plan.”
###
