Leading GOP figures have gutted Senate Democrats for pushing through a $740 billion package that would be spent on energy and health care while raising corporate taxes with the GOP chairman warning that midterm elections for President Biden’s party would be painful.
“Democrats will pay the price in November for raising taxes on families during a recession,” Ronna McDaniel, chairwoman of the Republican National Committee, said in a statement.
Senate Democrats narrowly approved the inflation-reducing bill on Sunday, with Vice President Kamala Harris having the casting vote in the 51-50 passage. No Republican backed the bill and quickly slammed it down when it made its way to the House of Representatives, which also holds a slim Democratic majority.
The law would invest nearly $400 billion in environmental initiatives while extending expiring subsidies for 13 million people seeking affordable health insurance. It will also limit out-of-pocket drug costs for seniors on Medicare to $2,000 per year.
Some of the $700 billion in new revenue would come from a minimum 15% corporate tax rate imposed on very wealthy companies with profits in excess of $1 billion a year.
Senate Minority Leader Mitch McConnell said in a statement that Democratic policies have led to an “economic assault on America’s middle class.”
“Democrats have proven time and time again that they just don’t care about the priorities of middle-class families,” McConnell (R-KY) said. “They spent 18 months proving that. They just spent hundreds of billions of dollars proving it again.”
Senator Mitt Romney argued Democrats helped contributing to inflation as they passed America’s $1.9 trillion bailout last year and “returned to their same tired playbook of raising taxes, spending more and expanding the size of government.”
“Rather than listening to the American people, who are suffering from inflation, Democrats voted for a liberal wish list,” Romney (R-UT) said, saying higher taxes on companies would be passed on to customers.
“The American people, drowning in debt and inflation, needed a life preserver, and the Democrats gave them a bag of hammers.”
Senator Ted Cruz (R-TX) tackled the bill as a “giveaway to the radical left base of the Democrats at the expense of the American middle class”. He added that doing so would raise prices and raise taxes for Americans in most tax brackets, including those earning less than $400,000 a year.
Sen. John Kennedy (R-LA) was blunt in a Video he posted on Twitter.
“In my opinion, it takes a special kind of stupidity to raise taxes during a recession and inflation,” he said. “It’s called stagflation, and that’s what we have now because of President Biden’s policies.”
Sen. Lisa Murkowski (R-AK) said she voted against the bill because it pours billions into new spending and taxes “when our economy can least afford it, along with the absolute lack of transparency involved in manufacturing.” and processing”.
“Even the ground debate — with amendment votes starting just before midnight on Saturday and continuing through Sunday afternoon — was designed to avoid public awareness and scrutiny,” she said. “While I don’t oppose everything in the bill, I have no doubt that the Senate should not have passed it, based on both the content and the process.”
Democrats hailed the passage after a voting-a-rama of the proposed changes Saturday through Sunday, with Biden saying in a statement from Senate Democrats he was “standing with American families over special interests.”
“I ran for president and I promised to put government back to work for working families, and this bill does exactly that — period,” he said.
Senate Majority Leader Chuck Schumer (D-NY) also praised the bill.
“The Senate makes history,” he said. “I am confident that the Inflation Reduction Act will endure as one of the defining legislative achievements of the 21st century.”
With mail wires
https://nypost.com/2022/08/07/gop-blasts-dems-after-senate-passes-energy-and-health-care-bill/ GOP blasts Dems after Senate passes Energy and Health Care Act