Tax and Spend for ‘Inflation Reduction’

Schumer and Manchin push the big government spending bill

Senate Democrats this week are trying to get a giant tax and spend bill through that, they say, will bring down our high cost of living. They actually named the bill the “Inflation Reduction Act.”

I’m sure you’ve heard Sen. Joe Manchin (D-WV)– who is usually a swing vote– is leading the charge on the massive bill with Senate Majority Leader Chuck Schumer (D-NY). Sen. Krysten Sinema (D-AZ) is the only holdout now.

I took this picture last week of the Senate side of the Capitol

Spending more taxpayers’ money to reduce inflation sounds counter to everything we have been told about economics – and how we got here after the pandemic spending. 

So will it reduce inflation? Does it raise taxes on working Americans? What are those new IRS agents going to be doing? Do we need to spend more money on climate issues? (I attached the Dem’s one-pager on the bill at the bottom.)

Let’s look at what both sides are saying in D.C. and discuss in the comments in my weekly newsletter for paid subscribers.