More Audits, More Taxes, More Inflation

Democrats’ bill to raise taxes during a recession and increase middle-class IRS audits was signed into law yesterday. The tax-and-spending spree is an encore to the trillions of dollars of spending that sent inflation skyrocketing and plummeted the economy into a recession. 

The legislation’s official title, the Inflation Reduction Act of 2022, is described as a “marketing device.” The bill was rebranded as a “health, climate and tax” law when experts said it “may actually worsen inflation.”

Republicans — who united in opposition to the bill — warned of its consequences.

Today, amidst record inflation & after entering a recession, Joe Biden signed a bill which:

👎🏼 continues reckless spending
👎🏼 raises your taxes
👎🏼 expands IRS audits
👎🏼 fails to tackle inflation

Biden pinky promises it won’t do any of this, but who still believes his PR spin?

— Nancy Mace (@NancyMace) August 17, 2022

The least popular provision includes funding for an army of new IRS agents that will target lower- and middle-income Americans for tax audits. Taxpayers earning less than $75,000 will be subject to more than 700,000 new audits.

Every Senate Democrat voted against protecting people making less than $400K from the IRS’s army of 87,000 new agents.

You don’t need to be Einstein’s cousin to figure out who they’re really after—it’s everyday Americans.https://t.co/88D2zlZnck

— John Kennedy (@SenJohnKennedy) August 16, 2022

Bottom Line: Marketing and budget gimmicks won’t change reality. Democrats’ reckless spending spree is bad for the economy and for taxpayers.