The House on Friday passed another $700 billion in spending that the U.S. can’t afford in the form of the so-called “Inflation Reduction Act,” which, in reality, throws another $400 billion at bogus climate change initiatives (think Solyndra) and beefs up the IRS so it can terrorize working-class Americans.
The bill was passed along party lines, 220-207, which means the midterm elections can’t come soon enough to stop Congress with its dual Democrat majorities from wrecking the economy even more before Democrats get thrown out on their ears.
According to Breitbart, the bill is no longer actually called the Inflation Reduction Act because Senate Republicans succeeded in stripping that name due to its lack of actual budgetary impact, according to the CBO.
Pelosi noted she was trying to avoid repeating the “Inflation Reduction Act” bill nickname.
Notably, Republicans were able to strip that reference out of the bill in the Senate because the bill name has no budgetary impact.
— @lindsemcpherson (@lindsemcpherson) August 12, 2022
When House Speaker Nancy Pelosi (D-CA) spoke about the bill, she said she was trying to avoid using its previous name.
The bill made it through the budget reconciliation process with the support of Sens. Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ), who had refused to support the previous Build Back Better act because of its high levels of spending and lack of deficit reduction.
While the current bill had less spending than Build Back Better by a few hundred billion dollars, it is not expected to deliver the deficit reduction it promised, despite raising taxes on (supposedly) the most wealthy Americans.
Senate Democrats double-crossed Republicans by waiting until a $280 billion semiconductor bill passed with bipartisan support on Democrats’ word that there would be no subsequent reconciliation bill.
Once the semiconductor bill was passed, however, the Democrats broke their word and went ahead with the even larger reconciliation bill.
Duped by Democrats
Sen. Rick Scott (R-FL) said about the turn of events, “Yesterday’s announcement by Joe Manchin and Chuck Schumer showed again that too many Senate Republicans unfortunately trusted Democrats and got duped. Some are pretending to be shocked. It’s not shocking at all.”
Sen. John Kennedy (R-LA) added that Republicans got, in Louisiana lingo, “rinky-doo’d,” which means screwed.
And thousands of working-class Americans may get to pay the price for their mistake as they have their taxes raised and then get audited by a newly emboldened IRS with a boosted work force.