As of yesterday, the Inflation Reduction Act passed the Senate. In a 50-50 vote with Vice President Kamala Harris as the tiebreaker, the Senate passed a massive spending bill under reconciliation rules. The bill will bring a ton of new deficit spending, create massive handouts for climate change initiatives, and add tens of thousands of new IRS agents to harass lower- and middle-class taxpayers.
But, curiously enough, reporters and politicians praising the passage of the bill aren’t actually mentioning the name of the bill: The Inflation Reduction Act.
I mentioned this on Saturday, when CNN’s John Harwood chastised Sen. Marco Rubio for calling the bill a “garbage bill.” But Harwood isn’t the only one.
Senate Democrats pass bill with largest climate investment in US history and measures to lower health care costs. It heads to the House.https://t.co/w02zl6sHbB
— CNN (@CNN) August 7, 2022
We did it. We passed the biggest climate bill that any country has ever passed. It is the reason I came to the Senate. The fight goes on, but for the first time, the American government is taking action that is equal to this moment.
— Brian Schatz (@brianschatz) August 7, 2022
It’s done: The Senate has passed the Dem climate and health care bill 50-50, with VP Harris casting tie-breaker. Been long, long and winding road, capped by grueling 15 hours of votes on amendments. Dems stuck together to the end.
— Igor Bobic (@igorbobic) August 7, 2022
It's been a long time coming, but the Senate has finally advanced transformative climate legislation. Thank you to Senators Schumer and Manchin and to every Senator who fought to ensure that climate action was a priority in this bill. Now to the House and to the President's desk!
— Al Gore (@algore) August 7, 2022
I could go on and on with this, but one thing is pretty clear: This was never an Inflation Reduction Act.
This is Build Back Better v2.0. It is a handout to the IRS so Democrats can fund their pet projects by harassing and fleecing small businesses and middle-class Americans. It is a handout to upper-class Americans who want to make the switch to electric vehicles. It is a handout to pet companies that produce those vehicles.
You are giving massive subsidies during high inflation and raising taxes during a recession. It is a violation of basic economic principles at a time when the economy is extremely unstable.
This bill was the end result of Democrats negotiating with themselves. At no point was there any Republican input. They couldn’t even get the most liberal Republican in the Senate, Lisa Murkowski, on board with the bill. At no one was it ever anything other than the Affordable Care Act all over again – final passage of a Democrat bill with Democrat ideas and no attempt at getting bipartisan support.
If you’ll recall, the whole reason Americans were encouraged to dump Trump was to bring back normalcy and get the two sides working together again. That went out the window the moment it was convenient for Democrats.
Of course, this will pass the House of Representatives, and it will get to the President’s desk. He will sign it into law and by the time this bill actually impacts Americans, Biden will likely be out of office and the Democrats out of power in the House and Senate. It would be incumbent on Republicans to undo this as quickly as possible. It is possible that they could, but I’m not sure that they will.
Meanwhile, lower- and middle-class Americans, small businesses, and everyone the Democrats say they want to protect will be most impacted by this. You and I will be hurt, and the rich and powerful will feel no impact by this – except when they get those sweet tax breaks to buy the latest model of their favorite electric vehicles most of us can’t afford even with the subsidy.
All of this is happening and yet the bill’s actual name, the Inflation Reduction Act, is never actually addressed in the bill or in the reporting of it. Truly, a job well done by the Senate, the Democrats, and their allies in the media.