The Senate on Sunday passed the $700 billion Inflation Reduction Act, a scaled-down version of the Build Back Better Act.
The Inflation Reduction Act would alsomore “fuel” to the “inflation fire,” according to Rep. Jason Smith , the ranking member of the House Budget Committee. He explained that the Inflation Reduction Act utilizes budget gimmicks and fake offsets to mask the true cost of the bill. Smith said the bill would add $114 billion to the debt when accounting for Manchin’s fake gimmicks.
The bill goes to the House, where it will likely pass, barring any major disputes that have yet to arise. The House Freedom Caucus released a statement after the vote, declaring their opposition to the Inflation Reduction Act: The fact is that Democrats’ latest spending bonanza has far more to do with enacting their socialist ‘Green New Deal’ agenda than truly helping Americans suffering from staggering 9.1% inflation. A host of non-partisan experts all agree that this legislation will not decrease inflation, and many forecast that it will have the opposite impact.
The Freedom Caucus added, “The misnamed ‘Inflation Reduction Act’ is a disaster from every perspective and it must be defeated.”
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Bernie Sanders says Inflation Reduction Act will have 'minimal impact' on inflationVermont Sen. Bernie Sanders said on Saturday that the Inflation Reduction Act being debated in Congress will have a 'minimal' impact on record inflation in the United States.
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What's in the Senate Democrats' landmark 'Inflation Reduction Act'?If all Democrats stick together, they'll be able to clear the hefty legislative package by their razor-thin majority and avoid a Republican threat of a filibuster.
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WATCH LIVE: Senate begins debate on Inflation Reduction ActWATCH LIVE NOW: The Senate is poised to commence debate on the passage of the so-called Inflation Reduction Act.
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Democrats advance the Inflation Reduction Act, setting up Senate 'vote-a-rama'BREAKING: Senate Democrats passed their first procedural vote on the Inflation Reduction Act. Vice President Harris cast the tie-breaking vote.
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Senate approves to advance Inflation Reduction Act with VP Harris breaking tieThe package, a dwindled version of earlier multitrillion-dollar measures that Democrats failed to advance, has become a partisan battleground over inflation, gasoline prices and other issues that polls show are driving voters.
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