Republicans warn Democrats will 'pay the price' for Inflation Reduction Act
Former George W. Bush speechwriter Marc Thiessen discusses how the recent Biden spending bill affects the average working American
The chairman of the National Republican Congressional Committee (NRCC) fired back against President Biden over a provision in the Inflation Reduction Act of 2022 that would spend billions of dollars to hire thousands of new IRS agents, and cautioned that the new bureaucrats could be used to target conservative groups.
If passed, tens of billions of dollars from the bill would go toward hiring 87,000 new Internal Revenue Service (IRS) agents. The bill passed in the Senate on Sunday with Vice President Kamala Harris casting the tiebreaking vote. It now heads to the House for a likely vote at the end of the week.
"Joe Biden is building an army of IRS agents to harass and bully the middle class. It’s something that should concern every American taxpayer. The IRS targeted conservatives during the Obama Administration, so it’s fair to wonder whether Joe Biden will use his new IRS Army to attack conservatives," said NRCC chairman, Rep. Tom Emmer, R-Minn., in an exclusive statement provided to Fox News Digital.
REPUBLICANS SAY DEMOCRATS WILL ‘PAY THE PRICE’ IN MIDTERMS FOR PASSING MASSIVE SPENDING BILL
Sen. Joe Manchin has denied claims that the Inflation Reduction Act will raise taxes on individuals making under 400k per year. (Reuters/Jonathan Ernst)
Emmer, who according to Politico is rumored to be in the running for House GOP Whip, may have reason to sound the alarm over IRS targeting if Republicans retake the House in November. In 2013, the tax collection agency was accused of delaying and adding extra scrutiny to the processing of nonprofit tax status applications of conservative organizations. After a two-year investigation by the FBI, the Department of Justice announced it declined to seek criminal charges related to the case.
DEMOCRATS' INFLATION REDUCTION ACT IS ‘ECONOMIC MALPRACTICE’: ECONOMIST
Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va., introduced the Inflation Reduction Act of 2022 after months of negotiations. In addition to new IRS agents, the bill spends hundreds or billions of dollars on a litany of Democratic Party spending priorities such as climate change and green energy.
Senate Majority Leader Chuck Schumer and Sen. Joe Manchin introduced the Inflation Reduction Act of 2022. (AP Photo/Jacquelyn Martin)
Despite the name of the bill, it's unclear if the legislation will have any meaningful impact on inflation reduction.
The Joint Committee on Taxation (JCT) reported that Americans making under $400,000 a year would have their taxes increased as a result of the act. The committee also concluded that the new bill would increase tax revenue by $16.7 billion on Americans earning less than $200,000 a year.
Sen. Bernie Sanders agreed with Republicans that the new bill would have little impact on inflation.
While speaking on the Senate floor prior to the vote, Sen. Bernie Sanders, I-Vt., referred to the bill as the "so-called" Inflation Reduction Act, and acknowledged that it would have "minimal impact" on reducing inflation.
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Member of the House of Representatives are expected back in Washington, D.C., to debate and vote on the bill as early as this Friday.
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