(RepublicanWire.org) – Fox News White House correspondent Peter Doocy pressed White House press secretary Karine Jean-Pierre about the raise in taxes in the Inflation Reduction Act of 2022.
Doocy asked Monday if President Joe Biden will rescind his support for the Inflation Reduction Act, a budget reconciliation bill proposed by Senate Majority Leader Chuck Schumer and Democratic West Virginia Sen. Joe Manchin, given that Biden promised not to raise taxes on anyone making $400,000 a year.
The press secretary confirmed the president’s continuing support for the bill.
“He promised it wasn’t going to raise taxes on anybody making less than $400,000 a year, but the Joint Committee on Taxation (JCT) says that is not true,” Doocy said.
“Well, that is incorrect,” Jean-Pierre said.
“So, the Joint Committee on Taxation, which you guys heralded as an effective body when you were selling the infrastructure package, is not to be trusted here?” he said.
The press secretary said the JCT report is “incomplete” because it does not include the benefits the legislation would provide to Americans. She added that several experts disputed the report for excluding the benefits it would have on clean energy, lowering the deficit and prescription drugs.
The bill, if passed, would mandate a 15% minimum tax on corporations making $1 billion or more in profits, Jean-Pierre continued.