What They Were Saying About The IRA
The Republican controlled Congress is now considering a plan to fully repeal President Biden’s poorly named Inflation Reduction Act (IRA) of 2022. There are many reasons to fully repeal the IRA, however the “Green New Deal” elements are especially troubling.
The IRA’s energy subsidies are projected to cost taxpayers between $936 billion and $1.97 trillion over the next decade, with potential liabilities reaching up to $4.7 trillion by 2050. This enormous price tag makes a promising target for the Trump administration in its efforts stop run away spending.
Despite this being a slam-dunk for the Republicans, a group of GOP Representatives and Senators recently signed letters asking to protect the IRA’s fiscally irresponsible tax credits. Many of the signers were openly calling for the full repeal just a few short years ago. Here’s what they were saying before they had a chance to actually make a difference:
Senator Lisa Murkowski (AK)
“It contains hundreds of billions of dollars in new spending, and hundreds of billions more in new taxes that will burden the American people and American businesses for years to come. Even floor debate – with amendment votes starting just before midnight on Saturday, and continuing through Sunday afternoon – was designed to avoid public awareness and scrutiny…There is no doubt in my mind, based on both substance and process, that the Senate should not have passed it.” –The Center Square, August 8, 2022
Senator John Curtis (UT)
“This bill, the Inflation Reduction Act (despite multiple studies showing it won’t reduce inflation) is not transformational. The only transformational thing about the Democrats’ tax and spending spree is how it will raise taxes and give the federal government massive command and control over our economy and in people’s lives. In a twist of irony, the bill will tax and audit the middle class to give money to the Democrat’s preferred large corporations to invest in decarbonization. We should be protecting the middle class from increased energy costs, not using them to subsidize corporate tax credits.” –Congressional Western Caucus, August 15, 2022
Sen. Thom Tillis (NC)
“It’s an insult to the intelligence of North Carolinians when politicians like President Biden and Governor Cooper claim that raising taxes and spending $740 billion on their far-left priorities will actually reduce inflation and stop the Biden recession.”
Sen. Jerry Moran (KS)
“The idea that spending more money and increasing taxes will be helpful in combating inflation is false and confirmed by the Congressional Budget Office. Rather than taking steps to curb spending and expand energy production, the so-called Inflation Reduction Act will raise taxes on small businesses and working families, including by hiring 87,000 more IRS agents to target more Americans with tax audits. Instead, the Senate should be focused on pro-job, pro-growth policies to reduce the cost of gas, goods and services for Kansans.” -Senator Jerry Moran, August 7, 2022
Rep. Andrew Garbarino (NY-02)
“This bill means $745 billion in new spending, including over $400 billion for the ‘Green New Deal’ and $80 billion in new funding for the IRS to hire 87,000 new agents to go after the middle class and small businesses…This bill is bad for Long Islanders and bad for the American people. Shame on Congressional Democrats for forcing through this irresponsible legislation to score a political win at the expense of American taxpayers.” -Office of Congressman Andrew R. Garbarino, August 12, 2022
Rep. Mark Amodei (NV-02)
“When you look at the overall policy, let’s just say for Nevada, these two pieces of funding do not make up for the damage these two pieces of legislation can do or are threatening to do.”
Rep. Don Bacon (NE-02)
“This reckless and partisan bill is bad for Nebraska families, bad for Nebraska businesses, and bad for America’s energy sector. Democrats have been misinforming the American people on what’s really in this bill, and even President Biden’s favorite economist, Mark Zandi, says it won’t reduce inflation. We can’t keep asking the American taxpayers to shoulder the burden for the Democrats’ reckless spending.” -Office of Congressman Don Bacon, August 12, 2022
Rep. Dave Joyce (OH-14)
“The Majority just created hundreds of billions of dollars in new spending and implemented hundreds of billions of dollars in tax hikes. Those of us who live in the real world know that Washington can’t tax and spend its way out of this inflation crisis. That’s why I voted no.” -Congressman David Joyce, August 12, 2022
Rep. Tom Kean Jr. (NJ-07)
“Fiscal policy should be guided by what economists are saying, not Nancy Pelosi. Tom Malinowski just voted YES on a Liberal Spending Spree that will raise your taxes and hire 87k new IRS agents that will target New Jersey’s families.”
Rep. Buddy Carter (GA-01)
“The Inflation ‘Reduction’ Act is full of empty promises that harm some of Georgia’s flagship companies. In an ironic and careless twist, this legislation punishes one of Georgia’s largest employers and local providers of electric vehicles (EV), Kia Motors.” -The Atlanta Journal-Constitution, September 16, 2022
Rep. Young Kim (CA-40)
“The only thing the Inflation Reduction Act is reducing is the amount of hard-earned money in the wallets of American taxpayers.”
Rep. Mariannette Miller-Meeks (IA-01)
This enormous spending package is bad for Iowans, bad for patients, bad for the economy and hardworking Americans, and bad for the future of American innovation.”
-Office of Congresswoman Mariannette Miller-Meeks, August 12, 2022.
Rep. Dan Newhouse (WA-04)
“President Biden’s policies have placed America’s food, energy, economic, and national security at risk and this bill will do nothing to reverse any of that. Instead this legislation will make our situation even worse.”
Rep. David Valadao (CA-2)
“The so-called ‘inflation reduction act’ is being paid for on the backs of hardworking, middle-class valley families struggling to put food on the table and gas in their cars. the law did nothing to lower prices, offshored our critical supply chains and jobs to China, and supercharged the IRS to audit more small businesses and working families.”
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