In a series of Tweets, Joe Biden is promoting “The Inflation Reduction Act of 2022.”
Biden says this piece of legislation will “lower health care costs for millions of Americans. And, for the first time in a long time, make the largest corporations pay their fair share without any new taxes on people making under $400,000 a year.”
The Inflation Reduction Act of 2022 will lower health care costs for millions of Americans. And, for the first time in a long time, make the largest corporations pay their fair share without any new taxes on people making under $400,000 a year.
— President Biden (@POTUS) July 31, 2022
He further asserted this act would be “the most important investment America has ever made in our energy security and developing clean energy solutions for the future.”
The Inflation Reduction Act will be the most important investment America has ever made in our energy security and developing clean energy solutions for the future.
— President Biden (@POTUS) July 31, 2022
He further opined, “to make the transition to stable growth is for Congress to pass the Inflation Reduction Act.”
Here’s the bottom line: the best thing we can do to put our economy in a better position to make the transition to stable and steady growth is for Congress to pass the Inflation Reduction Act.
— President Biden (@POTUS) July 31, 2022
He is receiving criticism as well as support for his support of the new legislation.
White House Deputy Press Secretary says the act will fight inflation.
As expert after expert keeps verifying, @POTUS and congressional Democrats have a plan to cut costs and fight inflation.
But the congressional GOP wants to block the Inflation Reduction Act to preserve Big Pharma’s ability to price gouge and protect tax welfare for hedge funds. https://t.co/2j0VnQxSwX
— Andrew Bates (@AndrewJBates46) August 1, 2022
Chuck Schumer (D-NY) says the act will close tax loopholes for the rich.
The Inflation Reduction Act of 2022 will close tax loopholes long exploited by the wealthiest individuals and largest corporations.
— Chuck Schumer (@SenSchumer) July 29, 2022
One Twitter user said there would be $800 billion in new spending should it pass.
Only Democrats would, as inflation hits 40-year-highs, propose a massive tax increase on businesses (that will proceed to raise their prices) so they can fund $800 billion of new spending on green energy grift and call it the “Inflation Reduction Act.”
— Greg Price (@greg_price11) July 27, 2022
Another critic says the bill would do the opposite of its name.
Only the government could propose a bill to increase spending and call it “The Inflation Reduction Act”.
Remember, they always name the bills the opposite of what they actually mean.
In any other business this would constitute fraud and false advertising.
— Murray 🇺🇸 (@Rothbard1776) July 27, 2022