McCaul Votes NO on Reconciliation
I issued the following statement on the Inflation Reduction Act of 2022.
The so-called Inflation Reduction Act is, in reality, the Inflation Expansion Act. It is nothing more than a partisan spending spree by the Democrats in Congress that will further burden American families during a time of record inflation.
It adds 87,000 new IRS agents to harass and audit taxpayers and small businesses. It dramatically increases taxes on energy production and establishes a $369 billion slush fund for Green New Deal initiatives. It also includes a stock buyback tax that damages Americans’ retirement security for anyone with a 401K, IRA or a pension plan. This bill is beyond reckless and demonstrates that President Biden and Democrats in Congress have no regard for the financial wellbeing of the American taxpayer. I’m a resounding NO on this bill.