By Congressman Byron Donalds (R-FL)
The Democrats’ latest tax and spending spree, deceptively named the Inflation Reduction Act, is nothing more than a Trojan horse filled with left-wing power grabs that disadvantage the middle class. While House Democrats celebrated the passage of the legislation, Americans cringed at the thought of more economic hardship being thrown their way.
Democrats might have used the opportunity to prop up a failing president and distract Americans from what’s actually in the legislation, but the facts are clear. The Inflation Reduction Act, more accurately dubbed the Bidenflation Scam Act, doesn’t lower inflation, hikes taxes on Americans in nearly every income category and hires 87,000 new IRS agents to police the middle class.
Fresh off of burning $1.9 trillion on Biden’s “stimulus,” which sent inflation soaring and real wages falling, Democrats remain committed to making things even worse for Americans. As inflation continues to rage on at “its highest level in four decades,” Democrats went a step further to push financial pain on to the working class.
Despite Democrats’ misleading branding, the nonpartisan Congressional Budget Office has found that the legislation will have a “negligible” effect on inflation both this year and the next. Additionally, the Penn Wharton Budget Model also concurred with the CBO’s findings, determining that the “impact on inflation is statistically indistinguishable from zero.”
If voters needed further proof that the Bidenflation Scam Act won’t actually do what it contends, they should consider that Democrats cannot say when the legislation will actually reduce inflation. The king of far-left priorities himself, Bernie Sanders, added that the bill will have “minimal impact” on tackling inflation. Still, that hasn’t stopped Democrats from celebrating, despite the hurt middle-class Americans will face thanks to them.
For nearly three years, Joe Biden has repeatedly promised Americans that if you make under $400,000 you won’t “pay a penny more” in taxes under his administration. As could be expected, “Middle-class Joe” is breaking that promise. In fact, the middle class will be charged $20 billion in new taxes, and according to the nonpartisan Joint Committee on Taxation, Americans making as little as $20,000 per year will be hit with more Biden Tax Hikes. If it wasn’t bad enough that middle-class Americans will bear the brunt of the Bidenflation Scam Act financially, they’ll also be targeted by the Biden administration via the IRS.
GOING AFTER THE MIDDLE CLASS
The Biden administration is greatly expanding the power of the IRS to conduct costly audits of families and businesses. In fact, taxpayers making $50,000 or less will make up between 40 and 57 percent of the enforcement funded in this bill. If voters were still unclear about the Democrats’ true intentions, they should consider the fact that Democrats shot down Republican Senator Crapo’s amendment to make sure that the IRS doesn’t go after middle-class taxpayers. Florida Democrats might see a photo op in the Bidenflation Scam Act, but all Americans see are more tax hikes, increased inflation and an even more bloated bureaucracy.
Democrats are lying to us and insulting our intelligence with their latest scheme. Under a Biden administration, there’s no economic life raft coming to save Americans, only continued hardship and the option to purchase a $67,000 electric vehicle that they can’t afford in the Biden economy. Despite all that Democrats have taken away from Americans, they have given us a solution to reduce inflation: voting them out in November.
Congressman Byron Donalds is the U.S. representative for Florida's 19th congressional district. He serves most of the heart of Southwest Florida.