The so-called Inflation Reduction Act passed by the Senate on Sunday is “just as radical and destructive” as the Build Back Better bill that was rejected by Sen. Joe Manchin, D-W.Va., contends Rep. Jim Banks, R-Ind.
Banks, the chairman of the Republican Study Committee, warned in a memo listing 50 of the legislation’s “radical” measures that Democrats in Congress “aren’t damaging American’s pocketbooks – they are trying to damage their way of life.”
“I hope this list of partisan provisions will help you convey that fact to your constituents this August recess,” Banks concluded in his memo, which was spotlighted by Breitbart News.
The $430 billion climate, health care and tax overhaul was passed on a 51-50 party-line vote by the Senate on Sunday.
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Banks noted the Penn Wharton Budget Model found the bill would not curb inflation. And critics have pointed out that increasing spending during a recession only makes inflation worse.
Among the policies:
- The bill’s giveaway to green energy would increase American reliance on China for rare earth minerals
- The bill contains many budget gimmicks and fake offsets to mask the cost of the bill. When accounting for these budget tricks, the alleged deficit reduction bill would add $114 billion in debt over 10 years
- The legislation would add $80 billion in funds to supersize the IRS’s ability to audit Americans. This would especially harm middle-class Americans.
- The Inflation Reduction Act contains a “socialist price control regime”” to aim to lower drug prices
- Expand Obamacare by extending enhanced Obamacare subsidies
- Create an “environmental justice solar and wind capacity limitation program” to further the Democrats’ “radical ‘environmental justice’ agenda”
- $8.45 billion to further “environmental justice in agriculture”
- $3 billion for the Department of Transportation to undertake projects to address racism in infrastructure
- $5 billion to support $250 billion in Department of Energy loan guarantees and loan refinancing for green energy infrastructure and remediation activities.
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